That rise in October seems like a one-off: the UK manufacturing sector is back to were it was: a score of 52.7 points in November, compounded with a downwards revision of October’s number to 55.2 points.
GBP/USD slips from the highs and reaches 1.5084.
Markit was expected to report a slide in the purchasing managers’ index for the manufacturing sector in the UK, from 55.5 to 53.6 points now for November. GBP/USD traded around 1.51 towards the release.
Cable had recovered from the lows of just under 1.50, that were fueled by end-of-month flows as well as USD strength. The greenback is now weakening across the board.
Later this week we’ll have the release of construction PMI (tomorrow) and the services PMI on Thursday. The BOE meets to make its decision only next week. Today’s public appearance from Mark Carney didn’t provide any big headlines.
Support awaits at 1.5060 and 1.50. Resistance at 1.5160, 1.52 and 1.5250.
More: GBP/USD sell the rallies
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