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
Real Time News
  • USD approaching YTD high (93.73) Factors supporting USD - Yields picking up - Risk appetite weaker - Corporate month end, typically USD positive
  • China State Grid says will strictly control power consumption by high-energy consuming polluting sectors - Will closely monitor supply of thermal coal, hydro and wind power
  • Citi lowers China 2022 GDP forecast 4.9% from 5.5%, citing expected spillover from managed Evergrande restructuring
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • Spooz sub 50-DMA again. There’s been some selling overnight during the European sessions yesterday and today. Sure hope this doesn’t shape up into a H&S topping pattern, but has anyone else noticed lower highs and lower lows forming? 👀 $SPX $ES #SP500
  • PBoC Governor - PBoC has the conditions in place to maintain a normal and rising yield curve - Sees no need to purchase assets now
  • Not today I’m afraid. I’m on holiday in Ventnor in the lovely Isle of Wight
  • ECB's Villeroy - Inflation forecast justifies keeping loose ECB policy
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Join @MartinSEssex at 5:30 EST/9:30 GMT for a webinar on trading sentiment. Register here:
Pound Gains on Better-Than-Expected UK Construction PMI Data

Pound Gains on Better-Than-Expected UK Construction PMI Data

David Maycotte,

Talking Points:

- UK Construction PMI 64.6 vs. Estimated 61.5 in January

- British Pound rises against U.S. Dollar following PMI Data

- Spotlight Now on This Week's Bank of England Rate Meeting

Get Real-Time Feedback on Your Trades with DailyFx on Demand!

UK Construction PMI gauge rose to 64.6 in January, beating expectations calling for a print of 61.5. The outcome marks the strongest pace of construction-sector expansion since at least 2008. The upbeat release follows a disappointing UK Manufacturing PMI report yesterday.

The British Pound rose against the U.S. Dollar as the data crossed the wires. The move may have reflected speculation that upbeat data signals the Bank of England will move relatively sooner to decrease stimulus. Traders now turn to the Bank of England policy announcement due later this week for further directional cues.

GBP/USD 1-Minute Chart. February 4, 2014

British_Pound_Advances_on_better-than-expected_UK_Construction_PMI_Report_body_Picture_1.png, Pound Gains on Better-Than-Expected UK Construction PMI Data

Charted created by David Maycotte using Marketscope 2.0.

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to

Want to trade with proprietary strategies developed by FXCM? Find out how with Mirror Trader.

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