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
More View more
Real Time News
  • 🇦🇺 Retail Sales MoM Prel (AUG) Actual: -1.7% Previous: -2.7% https://www.dailyfx.com/economic-calendar#2021-09-28
  • 🇨🇳 Industrial Profits (YTD) YoY (AUG) Actual: 49.5% Previous: 57.3% https://www.dailyfx.com/economic-calendar#2021-09-28
  • (APAC Stocks Briefing) Dow Jones Gains as Nasdaq 100 Sinks, Crude Oil Boosts Energy Stocks. ASX 200 in Focus #DowJones #CrudeOil #NASDAQ #ASX200 https://www.dailyfx.com/forex/market_alert/2021/09/28/Dow-Jones-Gains-as-Nasdaq-100-Sinks-Crude-Oil-Boosts-Energy-Stocks-ASX-200-in-Focus.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/yTN6C2IOvV
  • 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/kbV2qS0Mph
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (AUG) due at 01:30 GMT (15min) Previous: 57.3% https://www.dailyfx.com/economic-calendar#2021-09-28
  • Heads Up:🇦🇺 Retail Sales MoM Prel (AUG) due at 01:30 GMT (15min) Previous: -2.7% https://www.dailyfx.com/economic-calendar#2021-09-28
  • Join @FxWestwater at 22:00 EST/2:00 GMT for a webinar on preparing to trade commodities markets in the week ahead. Register here: https://t.co/qTOa61aMmN https://t.co/0215tACld8
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/Dq7umm2uyz
  • RT @FxWestwater: $NZDUSD Struggles as RBNZ Hike Bets Dim. Australian Retail Sales, Chinese Data Near Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/09/27/NZDUSD-Struggles-as-RBNZ-Hike-Bets-Dim-Australian-Retail-Sales-Chinese-Data-Near.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https:/…
  • Heads Up:🇯🇵 BoJ Monetary Policy Meeting Minutes due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-27
British Pound Slips as UK Manufacturing Growth Cools to an 8-Month Low

British Pound Slips as UK Manufacturing Growth Cools to an 8-Month Low

David Maycotte,

Talking Points:

  • U.K. Manufacturing PMI Falls to an 8-Month Low
  • British Pound Falls as Data Crossed the Wires
  • Focus Turns to BOE Policy Meeting Next Week

Get Real-Time Feedback on Your Trades with DailyFX on Demand.

Release

Actual

Expected

Prior

U.K. Markit PMI Manufacturing s.a. (MAR)

55.3

56.7

56.2

UK Manufacturing PMI fell to 55.3 in March, down from February’s 56.2 and missing expectations calling for a print of 56.7. The outcome marked the lowest pace of factory-sector growth in eight months. However, UK PMI Manufacturing stills remains well above its long run average of 51.4.The British Pound fell against the US Dollar as the data crossed the wires, but the Sterling’s resilience may not be easily undermined by a nominal slowing of factory-sector activity. Sterling traders will look to next week’s Bank of England policy meeting for further volatility. The MPC committee has vocally talked down imminent rate hike possibilities and has even adjusted its forward-guidance regime.

The GBPUSD technical picture shifted from bullish to neutral. Market Analyst David DeFerranti speaks on the neutrality with candlestick analysis and his technical strategy is to remain on the sidelines. He sees indecision at a critical level of 1.6660. This view is not too different from Technical Strategist Jamie Saettele, CMT, who sees a probably pullback as GBPUSD trades into 1.6711/16760 resistance.

British-Pound-Slips-as-UK-Manufacturing-Growth-Cools-to-an-8-Month-Low_body_Chart_2.png, British Pound Slips as UK Manufacturing Growth Cools to an 8-Month LowBritish-Pound-Slips-as-UK-Manufacturing-Growth-Cools-to-an-8-Month-Low_body_Picture_1.png, British Pound Slips as UK Manufacturing Growth Cools to an 8-Month Low

GBP/USD 5-minute – using FXCM Marketscope 2.0.

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

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

http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2014/04/01/Forex-Euro-to-Look-Past-PMIs-German-Jobs-Data-as-ECB-Looms-Ahead.html

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

DISCLOSURES