Input Prices a Concern For UK Construction

U.K. manufacturing and construction shrank in January, pointing to a loss of economic momentum in the first quarter.

Factory output fell 0.9 percent from December, the Office for National Statistics said on Friday. Total industrial production declined 0.4 percent. Building firms cut output by 0.4 percent.

The figures follow a strong end to 2016, and there is little evidence of a dramatic slowdown as Brexit talks loom, with the falling pound continuing to underpin exports.

Bloomberg

EUR/USD – Euro Hugging 1.06 Ahead of US Nonfarm Payrolls Next

Switching Playbook

NFP

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.