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The British Pound strengthened against the Greenback, following UK Construction PMI data release on Monday. The GBP/USD currency pair gained only three pips, or 0.02%, to continue going up afterwards.
The Markit released Construction Purchasing Managers' Index data that came out a little bit better-than-expected, however stayed unchanged from the previous period of 52.5.
"Higher prices for fuel, raw material shortages, higher labor costs combined with slow delivery times were further obstacles to growth as firms nervously assessed their workforce for much-needed talent and sub-contractors could name their price," said Tim Moore, Senior Economist at IHS Markit and author of the Markit/CIPS Construction PMI.
| Historical Data Table: UK Construction PMI | Economic Calendar for 04.05.2018 | ||||||||
| Date | 02.02.2018 | 02.03.2018 | 04.04.2018 | 02.05.2018 | 04.06.2018 | 2:00 PM | US Factory Orders m/m | ||
| Actual | 50.2 | 51.4 | 47 | 52.5 | 52.5 | 5:00 PM | UK MPC Tenreyro Speaks | ||
| Forecast | 52 | 50.5 | 50.9 | 50.5 | 52 | 11:01 PM | UK BRC Retail Sales Monitor | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.33559 | 1.33596 | 0.03% | GBP/USD | 63.05% | 36.95% | |||
| EUR/GBP | 0.87623 | 0.87617 | -0.01% | EUR/GBP | 26.32% | 73.68% | |||
| GBP/CAD | 1.72552 | 1.72588 | 0.02% | GBP/CAD | 68.23% | 31.77% | |||
| GBP/JPY | 146.283 | 146.336 | 0.04% | GBP/JPY | 41.90% | 58.10% | |||