No surprises from the services sector in the UK: a score of 55.6 points. This reflects ongoing solid growth in the wake of 2016. Among the components, new orders ticked up as well, to 56.8 points. All 3 PMIs are showing growth.
GBP/USD is slightly higher after the publication, extending on previous gains.
Markit’s services PMI was expected to show ongoing OK growth at 55.4 points, similar to 55.5 seen in December. This is the last of three purchasing managers’ indicators, and the most important one.
GBP/USD traded higher, at 1.4430 towards the release. News about a nod for the EU/UK deal from Juncker helped sterling.
Earlier this week, manufacturing beat expectations while construction missed.
Tomorrow is Super Thursday from the Bank of England: the rate decision, the meeting minutes (including the voting pattern) and the Quarterly Inflation Report.
GBP/USD extends its gains and reaches a new high of 1.4462 before losing some ground. Sterling continues enjoying the good news regarding a deal with the EU.
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