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The British Pound strengthened against the Greenback, following the UK manufacturing PMI data release on Tuesday. The GBP/USD currency pair gained only six pips, or 0.04%, to continue fluctuating in the 1.4082 area.
The Markit revealed better-than-expected data in Britain's purchasing managers index in March. The PMI stepped up to 55.1, compared to downwardly revised 55.0 in the prior period. In quarter-to-quarter basis factory output rose only by 0.4 to 0.5 percent, showing the slowdown from 1.3 percent in the last quarter of 2017. The slowdown was caused mainly because of the decrease in consumer demand, which again was caused by higher inflation rate.
| Historical Data Table: UK Manufacturing PMI | Economic Calendar for 03.04.2018 | ||||||||
| Date | 01.12.2017 | 02.01.2018 | 01.02.2018 | 01.03.2018 | 03.04.2018 | All day | US Total Vehicle Sales | ||
| Actual | 58.2 | 56.3 | 55.3 | 55 | 55.1 | 8:30 PM | FOMC Memb. Brainard Speaks | ||
| Forecast | 56.6 | 58 | 56.5 | 55.1 | 54.8 | 11:01 PM | BRC Shop Price Index y/y | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 0.72572 | 0.72572 | 0.00% | GBP/USD | 49.21% | 50.79% | |||
| EUR/GBP | 0.87539 | 0.87529 | -0.01% | EUR/GBP | 26.39% | 73.61% | |||
| GBP/CAD | 1.81324 | 1.81373 | 0.03% | GBP/CAD | 27.13% | 72.87% | |||
| GBP/JPY | 149.466 | 149.521 | 0.04% | GBP/JPY | 42.10% | 57.90% | |||