GBP/USD: UK Flash PMIs

Source: Dukascopy Bank SA

The British Pound depreciated against the US Dollar, following the UK Flash PMIs survey results release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost 21 pips or 0.16% after the release. The Pound continued trading at the 1.3065 level against the Greenback after the release.

Markit released the UK Flash Services PMI survey results, which came out better-than-expected of 52.3 compared with the forecast of 53.4.

According to the official release: "UK private sector companies indicated another overall increase in business activity during October, but the rate of expansion slowed considerably since the previous month. This reflected a much weaker contribution from the service economy, with survey respondents often commenting on tighter restrictions across the hospitality sector and the impact of local lockdowns on general consumer spending. As a result, service providers reported a decline in new business for the first time since June, which contrasted with another solid expansion in new orders received by manufacturing companies in October."

Historical Data: UK Flash Services PMI
Date23.06.2024.07.2021.08.2023.09.2023.10.20
Actual47.056.660.155.152.3
Forecast39.151.457.057.053.4
Initial Reaction on Main Pairs
PairOpenCloseChange
EUR/GBP0.903920.904880.11%
GBP/CAD1.719621.71762-0.12%
GBP/JPY137.08000136.877-0.15%
GBP/USD1.310331.30827-0.16%
Oct 23, 2020 Open Positions
PairLongsShorts
EUR/GBP58.6%41.4%
GBP/CAD68.9%31.2%
GBP/JPY48.1%51.9%
GBP/USD47.8%52.2%

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