Markit’s construction PMI for the UK dropped sharply to 46 points, way below 50.5 expected and 51.2 seen in May. Purchasing managers’ indices are forward looking indicators. They imply future growth or in this case, contraction. A score below 50 reflects contraction. The outcome is the worst since June 2009 – 7 years. GBP/USD begins slipping down to 1.3260. All in all, trading is relatively stable as the US is on holiday today. If tomorrow’s services PMI follows suit with falling into contraction territory, we could see further falls. The services sector is the largest in the UK and the most critical one. The UK is not alone of course. Also the Sentix Investor Confidence in the euro zone crashed from 9.9 to 1.7 points, much worse than 8.1 expected. The expectations component went into negative ground and the survey clearly reflects Brexit. It was run between June 30th and July 2nd. People that matter are certainly worried. More: Brexit – all the updates in one place Here is how the slide looks on the chart: 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 7 Facts about Brexit – Infographic Yohay Elam 6 years Markit's construction PMI for the UK dropped sharply to 46 points, way below 50.5 expected and 51.2 seen in May. Purchasing managers' indices are forward looking indicators. They imply future growth or in this case, contraction. A score below 50 reflects contraction. The outcome is the worst since June 2009 - 7 years. GBP/USD begins slipping down to 1.3260. All in all, trading is relatively stable as the US is on holiday today. If tomorrow's services PMI follows suit with falling into contraction territory, we could see further falls. The services sector is the largest in the UK and the… 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.
