A big disappointment from the UK: manufacturing PMI for July dropped to 55.4 points. This is the lowest in a long time, even though it still reflects solid growth. The purchasing managers’ index for the manufacturing sector was expected to tick down from 57.5 to 57.2 points, still reflecting strong growth in this sector. Last month’s figure was revised to the downside: 57.2 points. GBP/USD traded on low ground towards the publication, at around 1.6870. In the immediate aftermath, the pair falls to 1.6840. — more coming Pound/dollar is doing quite a large scale U-turn after peaking at nearly 1.72. Is this already more than a correction? Is this a total change of direction? This is the first of a series of purchasing managers’ indices released in the UK. In recent months, they had a much more significant impact on the euro than the rate decisions, also held early in the month. US dollar strength has been a prominent feature this week. The market seemed to like positive data like the excellent 4% GDP growth for Q2 (preliminary and annualized) and shrugged off the not-too-hawkish statement from the Fed. The big event today is of course the Non-Farm Payrolls. See how to trade the NFP with EUR/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 GOLD Testing Critical Support Area Ahead Of US NFP Guest 9 years A big disappointment from the UK: manufacturing PMI for July dropped to 55.4 points. This is the lowest in a long time, even though it still reflects solid growth. The purchasing managers' index for the manufacturing sector was expected to tick down from 57.5 to 57.2 points, still reflecting strong growth in this sector. Last month's figure was revised to the downside: 57.2 points. GBP/USD traded on low ground towards the publication, at around 1.6870. In the immediate aftermath, the pair falls to 1.6840. -- more coming Pound/dollar is doing quite a large scale U-turn after peaking at nearly 1.72.… 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.
