Forex Crunch » Services PMI

British Economy Doing Better Than Expected, But Pound Printing Still Coming

Yohay — Fri, 03 Feb 2012 10:30:34 +0000

Purchasing managers’ indices in the UK were generally better than expected and pointed to growth in January. The chances of an official recession are now lower.

Nevertheless, even if Britain escapes another quarter of contraction, the QE train seems unstoppable.

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Forex Daily Outlook February 3 2012

anat — Thu, 02 Feb 2012 22:00:14 +0000

We summarize this week Unemployment Rate in the UK and Services PMI in the US are the major events this day. Here is an outlook on the market-movers awaiting us.

In the US, Unemployment Rate, measures total work unemployed force (by percentage) that looking for jobs during the last month.

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GBP/USD Outlook January 30 – February 3

kenny — Sun, 29 Jan 2012 15:39:53 +0000

The British pound had another stellar week, climbing almost 200 pips against the US dollar, and breaking the 1.57 level. The upcoming week has seven releases, including GDP. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.

The dollar weakened against most major currencies following Bernanke’s announcement that interest rates will likely remain near zero until late 2014. This was despite solid economic data coming out of the US.

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British Services Sector Moves Up – Pound Unexcited

Yohay — Thu, 05 Jan 2012 09:31:29 +0000

British Services PMI exceeded expectations and rose to 54 points, indicating stronger growth. Will Britain escape a recession?

GBP/USD is still under the weight of European troubles and doesn’t really move up on this good figure.

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Forex Daily Outlook January 5 2012

anat — Wed, 04 Jan 2012 22:00:50 +0000

ADP Non-Farm Employment Change in the US and Ivey PMI in Canada are the major market-movers. Let see what awaits us today.

In the US, Unemployment Claims, weekly report that is important for monetary health, value new unemployment insurances over the last week, decrement is due from 381K down to 375K now.

Read the rest of the article Forex Daily Outlook January 5 2012

GBP/USD Outlook January 2-6

kenny — Sun, 01 Jan 2012 17:06:09 +0000

GBP/USD surpised the markets with some unexpected movement during the holiday week. The pair broke the 1.57 resistance line (discussed last week), then dipped sharply to 1.5361, before recovering to close the week at 1.5527. There are five releases in the upcoming week, as the markets are back in action. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.

The UK economy grew by 0.6% in Q3, which was surprisingly good news. Other indicators point to a more troubling picture for 2012, such as the current deficit, which has ballooned to 15.2 billion pounds. Recently, the British pound managed to distance itself from the debt crisis affecting Europe. The movements in GBP/USD were still correlated with those made by EUR/USD, but the euro lost much more ground against the dollar. This has resulted in a big drop in EUR/GBP that reached levels seen only at the beginning of the year.

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Forex Daily Outlook December 5 2011

anat — Sun, 04 Dec 2011 21:00:30 +0000

We start the week with some interesting events like ISM Non-Manufacturing PMI in the US and Services PMI in the UK as the main highlight on today’s outlook. Let’s see what awaits us today.

In the US, The Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI); Monthly Survey to value the business conditions such as new orders, employment etc., a rise is expected 52.9 points on November up to 53.6 points now.

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GBP/USD Outlook December 5-9

Yohay — Sun, 04 Dec 2011 01:06:22 +0000

The British pound enjoyed the optimism that came from the coordinated central bank action. Will it break even higher? The upcoming week is very busy, with the rate decision being the highlight. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.

The housing sector is relatively stable: this was seen in another positive Construction PMI and another rise in house prices. On the other hand, manufacturing remains sluggish. We will get the last PMI figure and more housing data this week.

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3 Reasons for the Drop in EUR/USD

Yohay — Fri, 04 Nov 2011 13:28:51 +0000

Euro/dollar is on the fall. The initial reaction to the mixed Non-Farm Payrolls was a move higher, but this was limited and was followed with a slide.

The move then accelerated and EUR/USD already lost one support liine. Here are three reasons for the downfall:

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UK Services PMI Slides More Than Expected

Yohay — Thu, 03 Nov 2011 09:37:52 +0000

Britain’s services sector has slowed down in October according to the fresh purchasing managers’ index: the score dropped from 52.9 to 51.3, more than a drop to 51.9 that was expected. The impact on GBP/USD is minimal, as this surprise isn’t so dramatic.

Britain’s construction sector provided an upside surprise by jumping to 53.9 points, whereas it was expected to remain at around 50 – the line separating contraction and expansion.

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