01.08.2016 - Manufacturing activity declined in the UK
Macroeconomic statistics in the UK remains negative due to the impact of the results of the referendum on the country's exit from the European Union. Thus, the index of manufacturing activity fell in July to its lowest level since 2013 and totaled 48.2 against 52.4 in June. The median forecast was at 49.1. The reduction was observed in all directions. Domestic demand declined, but export orders increased by the weakening of the British pound. We expect the decline in the British currency quotations in the near future with a target at 1.3000 in the medium term, downside will be 1.2600 and 1.2200.