UK output data came in better than expected, while trade data was worse than expected.
UK April industrial production came in at +0.3% m/m, -12.3% y/y, better than median forecasts of -0.1% and -12.4% respectively.
Elsewhere April visible trade deficit came in at -£7.003 bln, worse than median forecast of -£6.400 bln. Non EU trade came in at -£4.139 bln versus median forecast of -£3.500 bln.
Meanwhile cable is trying to consolidate this morning’s gains in what are increasingly choppy trading conditions, presently at 1.6415.