It's all coming out today
March Industrial output, manufacturing output and construction output are due at the bottom of the hour.
The March PMI's for the same components all posted a loss from Feb so there's some scope to see these numbers disappoint today. However, the market is already expecting a worse number as they see industrial production at -0.4% m/m, and manufacturing at -0.2% m/m.
For the pound that means that a bad number probably being factored in so unless they're much much worse, any downside might be limited or short lived. A positive number will likely bring a bigger upward move but as is the case with this data, it would need to be a big big beat to get buyers excited.
These construction numbers can be a bit of a crazy horse on the monthly numbers so look to the year on year for a better idea of the state of play here.
Unless we get something right out of left field, don't expect huge moves in the quid either way.
To top it off, we get trade balance data too. All the details can be found in our calendar here.
