A small disappointment: UK construction PMI slides to 60 points in May, a bit under expectations. It is important to note that a score of 60 still reflects strong growth. Markit’s purchasing managers’ index for the construction sector was expected to tick up from 60.8 in April to 61.8 in May. This sector has enjoyed the strongest growth and some even fear a bubble in the housing sector. Once again, GBP/USD began a move prior to the publication, with the pair rising this time above 1.6780. Cable is now erasing the gains. Yesterday, the manufacturing PMI came out at a strong 57 points, as expected. The comeback of UK manufacturing is certainly helpful in a broader recovery: one that is not based solely on rising house prices. All in all, the UK economy looks quite robust with falling unemployment, stable inflation and positive prospects looking forward. The Bank of England meets this week, and is not likely to make any policy changes. It would like to let the current momentum run for more time. Last week’s drop in the value of the pound is more related to the unsuccessful M&A activity: America’s Pfizer withdrew its bid for the UK’s Astrazeneca. Tomorrow the UK releases the services PMI. Services is the largest sector. The current cable range is 1.6715 to 1.6772. For more, see the GBPUSD prediction. 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: Trading the Eurozone CPI Jun 2014 Kenny Fisher 8 years A small disappointment: UK construction PMI slides to 60 points in May, a bit under expectations. It is important to note that a score of 60 still reflects strong growth. Markit's purchasing managers' index for the construction sector was expected to tick up from 60.8 in April to 61.8 in May. This sector has enjoyed the strongest growth and some even fear a bubble in the housing sector. Once again, GBP/USD began a move prior to the publication, with the pair rising this time above 1.6780. Cable is now erasing the gains. Yesterday, the manufacturing PMI came out at a… Regulated 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.