Gordon Brown will deliver his 10th and final Pre-Budget Report from 12:30GMT today. The UK Chancellor will put spending on schools at the heart of the report, according to the BBC website. Brown is expected to succeed Tony Blair as UK PM next year.
GBP/USD fell by more than half-a-cent to 1.9635/40 bids on the back of the 09:30GMT disclosure of October's much worse-than-expected UK industrial and manufacturing production data. Touted stops below 1.9635 could spur fresh downward momentum towards 1.9600 if tripped. 1.9658 (post-UK IP data stall point) is now a resistance level. Upper obstacles include 1.9680, 1.9719 (today's Asian session base), and 1.9739 (today's Asian session peak). 1.9680 bids propped cable into the UK IP data. November's US ADP employment report will be published at 13:15GMT today.
Forecast: 100k. November US NFP will be revealed on Friday. Forecast: 105k. The BoE MPC is expected to leave the UK base rate at 5.0% when its two-day monthly meeting concludes tomorrow (Thursday).
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