Quite a disappointment from the UK’s largest sector: services PMI falls to 56.2 points, below 58.5 predicted. This is a significant miss, but still reflects growth. It is the lowest level since May 2013. The composite PMI stands at 56.4 points. GBP/USD extends its slide, clinging to 1.59, currently holding on to this level. Update: the pair breaks down with the new low standing at 1.5889. The UK services PMI was expected to tick down from 58.7 in September to 58.5 points. GBP/USD was on the back foot, trading under 1.5925, suffering from a strengthening US dollar rather than something pound related. This is the last but certainly not least of Markit’s purchasing managers’ indices. Earlier this week, manufacturing PMI beat expectations and showed some more solid growth, while construction PMI fell from the highs but remains quite high. Here is how it looks on the chart. As aforementioned, the move began before the publication and is related to general dollar strength across the board. For more, see the GBPUSD 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 EUR/USD: Holding 78.6% Fibo But Stay Bearish & Short – Yohay Elam 8 years Quite a disappointment from the UK's largest sector: services PMI falls to 56.2 points, below 58.5 predicted. This is a significant miss, but still reflects growth. It is the lowest level since May 2013. The composite PMI stands at 56.4 points. GBP/USD extends its slide, clinging to 1.59, currently holding on to this level. Update: the pair breaks down with the new low standing at 1.5889. The UK services PMI was expected to tick down from 58.7 in September to 58.5 points. GBP/USD was on the back foot, trading under 1.5925, suffering from a strengthening US dollar rather than something… 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.
