UK Zone: Meteoric rise in the British economy.
UK Zone: Meteoric rise in the
Investors will scrutinize this Thursday, December 5, Bank of England (BoE) policy monetary decisions. This meeting will be the last important one in 2013 for those who trade pairs composed by Sterling.
Manufacturing (PMI) achieved its highest growth in November for the past 3 years according to a survey appeared yesterday. The index rose from 56.5 in October to 58.4 in November, “manufacturing in the UK has continued to hit the high notes in November, reaching its highest level since February 2011”, said Rob Dobson, economist at Market (financial services company).
Improved manufacturing has increased job offers creating opportunities in the sector. The survey showed that in the manufacturing sector, job offers from 51.9 % in October to 54.5 % in November. These numbers are particularly scrutinized and the market is particularly focused on the outlook of the BoE monetary policy ready to tighten its monetary policy upon positive results of the unemployment rate.
While unemployment figures are still above the 7% target set by the Central Bank of England, the positive data on the UK economic recovery could cheer BoE members to decrease progressively its monthly financial stimulus of £375 billion in the British financial system.
Sterling has attained a peak since the past 5 years against several currencies thanks to trust of several investors in the British economic recovery...
Posted by MBCFX