British Manufacturing PMI dropped to 45.9, much worse than expected. Early expectations were for a score of 49.7 points. GBP/USD was already trading at low ground, at around 1.5350 before the publication, and it dropped to under 1.53 immediately afterwards, getting close to critical support. According to the initial publication, manufacturing PMI fell to 50.5 in April , just above the 50 point mark separating between growth and contraction. This was now revised to 50.2 points. The market storms in May certainly had their impact, which is felt in the mood of purchasing managers, also outside the euro-zone. The troughs seen in October were around 1.5270, and the year to date low was a quick swing to 1.5234 seen in January. For more on the pound, see the GBP/USD forecast. Such figures certainly raise the chances of more quantitative easing in Britain. In the recent inflation report, BOE Governor Mervyn King expressed great concern about the impact of the euro-zone unraveling about the British economy and certainly left the door open for more QE. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD June 1 – Loses Critical Support as Spain Yohay Elam 10 years British Manufacturing PMI dropped to 45.9, much worse than expected. Early expectations were for a score of 49.7 points. GBP/USD was already trading at low ground, at around 1.5350 before the publication, and it dropped to under 1.53 immediately afterwards, getting close to critical support. According to the initial publication, manufacturing PMI fell to 50.5 in April , just above the 50 point mark separating between growth and contraction. This was now revised to 50.2 points. The market storms in May certainly had their impact, which is felt in the mood of purchasing managers, also outside the euro-zone. The troughs… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
