The purchasing managers’ index in the UK stands at 50.6 points in October, within growth territory (above 50 points). A marginal slide from 52.2 to 52 points was predicted. The lat time that this indicator was under 50 points was back in December 2010. This figure adds to the notion that Q3 growth was only a one time event and that the UK economy isn’t that strong. GBP/USD traded around 1.60 before the release and is slipping towards 1.580. This weak figure in an important sector could weigh on cable even more later on. Cable already lost the 1.60 line at the wake of the European session. Worrying news from Greece and especially Spain already pushed EUR/USD below the 1.28 line, and helped the dollar across the board. Tomorrow, the UK will release the Manufacturing Production indicator. See how to trade this event with GBP/USD. Later this week, the Bank of England will decide on the interest rate and if to expand the QE program. After a failure to breach 1.63, cable has leaned lower. For more, see the GBP/USD forecast. 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 Fiscal Cliff or Greek Cliffhanger – Which Poses More Matthew Lifson 10 years The purchasing managers' index in the UK stands at 50.6 points in October, within growth territory (above 50 points). A marginal slide from 52.2 to 52 points was predicted. The lat time that this indicator was under 50 points was back in December 2010. This figure adds to the notion that Q3 growth was only a one time event and that the UK economy isn't that strong. GBP/USD traded around 1.60 before the release and is slipping towards 1.580. This weak figure in an important sector could weigh on cable even more later on. Cable already lost the 1.60 line… 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.
