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
  • (APAC Stocks Briefing) Dow Jones Gains as Nasdaq 100 Sinks, Crude Oil Boosts Energy Stocks. ASX 200 in Focus #DowJones #CrudeOil #NASDAQ #ASX200
  • 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:
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (AUG) due at 01:30 GMT (15min) Previous: 57.3%
  • Heads Up:🇦🇺 Retail Sales MoM Prel (AUG) due at 01:30 GMT (15min) Previous: -2.7%
  • Join @FxWestwater at 22:00 EST/2:00 GMT for a webinar on preparing to trade commodities markets in the week ahead. Register here:
  • 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
  • RT @FxWestwater: $NZDUSD Struggles as RBNZ Hike Bets Dim. Australian Retail Sales, Chinese Data Near Link: https:/…
  • Heads Up:🇯🇵 BoJ Monetary Policy Meeting Minutes due at 23:50 GMT (15min)
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • Senate GOP blocks bill combining debt ceiling with government funding - BBG
Pound Slips Following Worse-Than-Expected UK PMI Data

Pound Slips Following Worse-Than-Expected UK PMI Data

David Maycotte,

Talking Points:

  • UK Services PMI 57.6 vs. Estimated 58.2 in February
  • British Pound Falls vs U.S. Dollar After Data Crossed the Wires
  • Spotlight Turns to Next Week’s Bank of England Rate Meeting

Economic Event




Markit/CIPS UK Services PMI (MAR)




Markit/CIPS UK Composite PMI (MAR)




UK Services PMI gauge slipped to 57.6 in March, and missing estimates calling for a print of 58.2. The pace of expansion in sector-sector activity fell for the sixth consecutive month and to a 9 month low. Data out of the UK has disappointed and is unflattering for interest rate expectations. This past session Markit’s construction PMI survey for March reported unexpected contraction in factory-sector activity. The consistent round of disappointing data may pressure the sterling lower as it may reflect traders’ easing their bets for an early rate hike.

The British Pound fell against the U.S. Dollar as the data crossed the wires. Currency Strategist Ilya Spivak says the British Pound may be carving a top below 1.67 figure against the US Dollar. On a similar note, Market Analyst Dave de Ferranti notes that the 1.6670 mark has put a break on the pound rally.

Pound-Slips-Following-Worse-Than-Expected-UK-PMI-Data_body_Chart_2.png, Pound Slips Following Worse-Than-Expected UK PMI Data

GBP/USD 5-Minute Chart. April 3, 2014

Pound-Slips-Following-Worse-Than-Expected-UK-PMI-Data_body_Picture_1.png, Pound Slips Following Worse-Than-Expected UK PMI Data

Charted created by David Maycotte using FXCM’sMarketscope 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.