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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
UK Experiences Fastest Manufacturing Growth in Ten Months

UK Experiences Fastest Manufacturing Growth in Ten Months

Benjamin Spier, Technical Strategist

UK PMI manufacturing expansion rate comes in 1.4 higher than expected -> data represents fastest manufacturing expansion in ten months -> GBP/USD reaches yearly high of 1.6060 following the report

UK Purchasing managers’ index (PMI) manufacturing numbers for March came in at 52.1, an expansion rate 1.4% higher than analysts’ expectations. It was the fastest acceleration of manufacturing growth in ten months.

Earlier today, Euro-Zone PMI manufacturing came in even with expectations, while the same report in Germany outperformed expectations. A PMI above 50 indicates that manufacturing orders are up and is a sign for positive economic outlook.

GBP/USD reached a new yearly high of 1.6060, continuing the day’s 50 point rally ahead of the release. GBP/JPY lost initial gains following the report, but remains 40 points above the day’s open.

UK_Experiences_Fastest_Manufacturing_Growth_in_Ten_Months_body_BOE.png, UK Experiences Fastest Manufacturing Growth in Ten Months

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