The focus on Tuesday morning was on the scheduled release of GBP’s Manufacturing Production. Expectations were for a 0.3% monthly increase, although as you can see these expectations don’t have the best track record in terms of accuracy…
Anyway, the actual figure came out as 1.0%; let’s take a look at how the markets -the pound in particular – reacted…

Due to the speed of trading machines, I don’t believe it’s a viable long-term strategy to trade economic numbers, with the rare exception of economic figures that the market finds absolutely shocking. What I found curious about British Manufacturing Production was the steady buying of the Pound that took place in ahead of the data release. Who was so confident that the economic data was going to be good news for the Pound? Or was this just a coincidence?