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U.K. manufacturing sector sentiment remains positive in August

The CBI Industrial Trends survey showed that confidence in the U.K. manufacturing sector continued to be positive in August, with the output index dropping slightly from its record reading of 31 percent in July to 30 percent.

Manufacturers showed another solid rise in demand as the index for total orders indicated an eighth consecutive rise and reached 13 percent, which is the joint second-highest level since 1988. But while surveys have implied that the subdued exchange rate and more rapid growth in major overseas markets are underpinning manufacturing output, hard data from the ONS has so far indicated no corresponding rise in manufacturing output growth, noted Daiwa Capital Markets Research in a research report.

Manufacturing output in the first half of 2017 failed to record a single monthly rise, and the average rate of rise in the past three months compared to a year ago was the lowest level since April 2016.

“So, while we might see manufacturing output starting to creep up over the coming months, surveys appear to be overestimating manufacturing sector momentum”, added Daiwa Capital Markets Research.

At 21:00 GMT the FxWirePro's Hourly Strength Index of British Pound was bullish at 88.9839, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at 23.5697. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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September 20 15:30 UTC Released

BRForeign Exchange Flows*

Actual

2.161 Bln USD

Forecast

Previous

-1.251 Bln USD

September 20 14:30 UTC Released

TRCentral Govt Debt Stock*

Actual

820.5 Bln TRY

Forecast

Previous

817.1 Bln TRY

September 21 08:30 UTC 426426m

GBPSNB, MM GBP

Actual

Forecast

Previous

-0.76 Bln GBP

September 21 08:30 UTC 426426m

GBPSNCR, MM GBP

Actual

Forecast

Previous

-3.912 Bln GBP

September 21 08:30 UTC 426426m

GBPSNB Ex Banks GBP

Actual

Forecast

7.100 Bln GBP

Previous

-0.184 Bln GBP

September 21 12:00 UTC 636636m

BRIPCA-15 Mid-Month CPI

Actual

Forecast

0.15 %

Previous

0.35 %

September 21 12:00 UTC 636636m

BRIPCA-15 Mid-Month CPI YY*

Actual

Forecast

2.60 %

Previous

2.68 %

September 21 12:30 UTC 666666m

CAWholesale Trade MM

Actual

Forecast

-0.9 %

Previous

-0.5 %

September 21 12:30 UTC 666666m

USInitial Jobless Claims

Actual

Forecast

300 k

Previous

284 k

September 21 12:30 UTC 666666m

USJobless Claims 4-Wk Avg

Actual

Forecast

Previous

263.25 k

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