The weakest link in the UK economy has just become weaker: the manufacturing sector is growing at a slower pace than expected: 51.6 points according to the manufacturing PMI for September. In addition, last month’s number has been revised down to 52.2 from 52.5 points. GBP/USD is falling towards 1.6160, around 40 pips in the immediate response in the markets. Markit’s manufacturing purchasing managers’ index for September carried expectations for a tick up to 52.6 points after 52.5 in August. This sector is the UK’s weakest link. The sensitive new orders component is especially weak, just above the break even figure of 50. GBP/USD traded around 1.62 towards the publication. This is the first of a series of 3 PMIs. Tomorrow we have the construction sector and on Friday the services PMI, which is the most important one given the size of the economy. These are forward looking indicators, but not always 100% correct. The British pound has been one of the stronger currencies in the recent dollar storm. While it did lose ground to the greenback, it gained nicely against the euro and other currencies. The wobbles around the referendum in Scotland belong to the past. See how to trade the US ADP Non-Farm Payrolls with GBP/USD. 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 and AUD/USD could stage big corrections from lower Gregor Horvat 8 years The weakest link in the UK economy has just become weaker: the manufacturing sector is growing at a slower pace than expected: 51.6 points according to the manufacturing PMI for September. In addition, last month's number has been revised down to 52.2 from 52.5 points. GBP/USD is falling towards 1.6160, around 40 pips in the immediate response in the markets. Markit's manufacturing purchasing managers' index for September carried expectations for a tick up to 52.6 points after 52.5 in August. This sector is the UK's weakest link. The sensitive new orders component is especially weak, just above the break even… 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.
