The convergence of the UK economy continues with another slide in the construction PMI: to 59.4 points. This is below expectations and comes one day after manufacturing PMI ticked up. While this is a disappointment, a figure of nearly 60 points still reflects very strong growth. GBP/USD ticks down to 1.57, still higher than the lows seen last week. Markit’s purchasing managers’ index for the construction sector was expected to tick down from 61.4 in October to 61.1 points in November. The construction sector stood out in this recovery cycle, leading the pack. GBP/USD traded around 1.5720 before the publication, slightly off the highs it reached earlier. Yesterday, manufacturing PMI came out marginally better than expected. The most important PMI comes tomorrow for the services sector, the UK’s largest. A broadening of the recovery from construction towards manufacturing is a positive. More: GBP/USD: Stronger Recovery Looming: Levels & Targets – JP Morgan For more about GBP, see the pound dollar 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 No surprises from RBA FxPro - Forex Broker 7 years The convergence of the UK economy continues with another slide in the construction PMI: to 59.4 points. This is below expectations and comes one day after manufacturing PMI ticked up. While this is a disappointment, a figure of nearly 60 points still reflects very strong growth. GBP/USD ticks down to 1.57, still higher than the lows seen last week. Markit's purchasing managers' index for the construction sector was expected to tick down from 61.4 in October to 61.1 points in November. The construction sector stood out in this recovery cycle, leading the pack. GBP/USD traded around 1.5720 before the publication,… 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.
