Industrial Production m/m (GBP) comes in at -0.2% against -1.7% consensus

GBP Industrial Production m/m came in at -0.2% for the latest period. This figure was significantly better than the consensus expectation of -1.7%, representing an 88.2% positive surprise. The previous month’s reading was 0%.

Following the release, the British Pound showed varied reactions against major currencies over the first 15 minutes. EURGBP moved -0.6 pips, which is small compared to its median 7 pip 1-hour move after past releases. GBPAUD moved -4.9 pips, also small relative to its median 17 pip 1-hour move. GBPCAD saw a +1.3 pip move, small against its median 13 pip 1-hour move. GBPCHF showed no change at 0.0 pips, well below its median 12 pip 1-hour move. GBPJPY gained +8.2 pips, which is less than its median 17 pip 1-hour move. GBPNZD rose +9.2 pips, also less than its median 19 pip 1-hour move. GBPUSD moved -3.7 pips, small when compared to its median 16 pip 1-hour move.