The Markit released UK Services PMI data that came out lower than expected of 52.2, compare to forecasted 53.4.
Chief Business Economist at IHS Markit, Chris Williamson explains :"The disappointing server sector numbers bring mounting evidence that Brexit worries are taking an increasing toll on the economy. Combined with the manufacturing and construction surveys, the October services PMI points to the economy growing at a quarterly rate of just 0.2%, setting the scene for GDP growth to weaken sharply in the fourth quarter…".
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| Historical Data Table: Services PMI | Economic Calendar for 06.11.2018 | ||||||||
| Date | 06.06.2018 | 04.07.2018 | 05.09.2018 | 03.10.2018 | 05.11.2018 | All Day | US Congressional Elections | ||
| Actual | 54 | 55.1 | 54.3 | 53.9 | 52.2 | 21:45 PM | NZD Employment Change q/q | ||
| Forecast | 52.9 | 54 | 53.9 | 54 | 53.4 | 21:45 PM | NZD Unemployment Rate | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.29795 | 1.29843 | 0.04% | GBP/USD | 57.15% | 42.85% | |||
| EUR/GBP | 0.87658 | 0.8763 | -0.03% | EUR/GBP | 48.51% | 51.49% | |||
| GBP/CAD | 1.70097 | 1.7019 | 0.05% | GBP/CAD | 49.47% | 50.53% | |||
| GBP/JPY | 146.969 | 147.032 | 0.04% | GBP/JPY | 47.38% | 52.62% | |||