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Hello everybody,
Brexit has sent GBPUSD to levels last seen in 1985 and despite the recovery, Sterling still suffers.
But, I expect stronger British pound sterling (GBP) on Monday.
UK services PMI (purchasing managers' index) is due on Monday.
U.K. Services PMI captures an overview of the services sector of the British economy.
Let's examine recent UK economic data -
(1) PMI index for the manufacturing sector in February slightly decreased by 0.1 points, to 55.2 against the forecasted decline to 55.1.
(2) PMI index for the construction sector showed growth to 51.4 points, analysts had expected growth to 50.5.
I expect a slight increase in U.K. Services PMI considering some clarity received on brexit issues.
Should be bullish for the GBP in my opinion.
Bye
Brexit has sent GBPUSD to levels last seen in 1985 and despite the recovery, Sterling still suffers.
But, I expect stronger British pound sterling (GBP) on Monday.
UK services PMI (purchasing managers' index) is due on Monday.
U.K. Services PMI captures an overview of the services sector of the British economy.
Let's examine recent UK economic data -
(1) PMI index for the manufacturing sector in February slightly decreased by 0.1 points, to 55.2 against the forecasted decline to 55.1.
(2) PMI index for the construction sector showed growth to 51.4 points, analysts had expected growth to 50.5.
I expect a slight increase in U.K. Services PMI considering some clarity received on brexit issues.
Should be bullish for the GBP in my opinion.
Bye
