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The British pound depreciated against the US Dollar, following the UK Services PMI data release on Wednesday at 08:30 GMT. The GBP/USD exchange currency rate lost 3 pips or 0.02% during a minute, right after the release. In the next minutes the rate was trading at the 1.3005 level.
The Markit released the UK Services PMI data that came out lower-than-expected of 53.9, compare to forecasted 54.0.
Chris Williamson, the Chief Business Economist .said: "The service sector continued to report solid steady business growth in September which, alongside news of sustained expansions in both manufacturing and construction, suggests the UK economy expanded by just under 0.4 per cent in the third quarter."
| Historical Data Table: Services PMI | Economic Calendar for 03.10.2018 | ||||||||
| Date | 03.05.2018 | 06.06.2018 | 04.07.2018 | 05.09.2018 | 03.10.2018 | 12:15 PM | US ADP Non-Farm Employment Change | ||
| Actual | 52.8 | 54 | 55.1 | 54.3 | 53.9 | 14:00 PM | US ISM Non-Manufacturing PMI | ||
| Forecast | 53.5 | 52.9 | 54 | 53.9 | 54 | 14:30 PM | US Crude Oil Inventories | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.29972 | 1.2999 | 0.01% | GBP/USD | 53.82% | 46.18% | |||
| EUR/GBP | 0.89026 | 0.89021 | -0.01% | EUR/GBP | 49.81% | 50.19% | |||
| GBP/CAD | 1.66751 | 1.66776 | 0.01% | GBP/CAD | 73.64% | 26.36% | |||
| GBP/JPY | 147.952 | 147.97 | 0.01% | GBP/JPY | 43.23% | 56.77% | |||