News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/arE0VMeE3k
  • Coming up at half past the hour. I'll be analysing the charts, looking at the confidence data on the calendar this week and talking about the IG client sentiment numbers. Do join me if you can https://t.co/nm3tP1xRmA
  • Join @MartinSEssex at 5:30 EST/9:30 EST for a webinar on trading sentiment. Register here: https://t.co/CX9djlHnWK https://t.co/NN8iRzbMsl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.65%, while traders in France 40 are at opposite extremes with 77.78%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mhS5GPlzBU
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: -0.17% Oil - US Crude: -0.22% Silver: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DrnTBv3TGT
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/F98u380a6a
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.63% 🇦🇺AUD: 0.42% 🇯🇵JPY: 0.15% 🇪🇺EUR: 0.01% 🇨🇭CHF: -0.00% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qb29dNwFFu
  • 🇨🇭 Consumer Confidence (Q3) Actual: 10 Previous: -18 https://www.dailyfx.com/economic-calendar#2021-08-03
  • 🇪🇸 Unemployment Change (JUL) Actual: -197.8K Previous: -166.9K https://www.dailyfx.com/economic-calendar#2021-08-03
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.31% US 500: 0.27% France 40: 0.20% FTSE 100: -0.04% Germany 30: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wOyy3Nhn5u
UK PMI for Manufacturing Rises to a Six Month High

UK PMI for Manufacturing Rises to a Six Month High

Benjamin Spier, Technical Strategist

THE TAKEAWAY: UK PMI Manufacturing rises to 49.4 in April, a six month high -> BoE predicts muted growth in H1 -> Pound fails to maintain gains

The UK Purchasing Managers’ Index for construction rose to a six month high in April, but failed to send the Pound significantly higher. The PMI for construction was reported at 49.4, beating expectations for 48.0 and higher than the 47.2 index result in March. A PMI below 50.0 indicates a contraction in sector activity, according to Markit.

The UK economy expanded by 0.3% in Q1 on an improvement in the services sector. The BoE predicted muted growth in the first half of 2013, and Governor King said a recovery is in sight in the longer term. Signs of increased economic growth are Pound positive.

However, the Pound was unable to sustain gains following the beat of expectations in the construction PMI release. GBP/USD is trading higher for the seventh consecutive session, but the pair may see resistance around 1.5595, by the cross of a 50% Fibonacci retracement and an upward trading channel.

Earlier today, the Euro-zone PMI for manufacturing was revised slightly higher in a final estimate, but still sat a four month low. The Swiss manufacturing sector returned to expansion in April, according to a PMI released earlier today. Both the Euro and the Swiss Franc rose slightly on respective better than expected index releases.

Newly appointed Italy Prime Minister Letta said today that Italy will maintain its deficit commitments. The comments may further calm worries that a new Italian PM may undo the economic reforms put in place by former PM Monti. Letta and EU’s Barroso were briefing the press in Brussels.

Later today, the ECB will announce its rate decision following its May meeting, and most Bloomberg surveyed analysts are expecting a rate cut. Read about the possible impact of the rate decision on Forex markets here.

GBPUSDDaily: May 02, 2013

The_UK_PMI_for_Manufacturing_Rises_to_a_Six_Month_High_body_gbpusd.jpg, UK PMI for Manufacturing Rises to a Six Month High

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES