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The Sterling ignored weaker than expected UK Manufacturing PMI data, but remained relatively strong against the US Dollar. The GBP/USD currency pair was little changed on the report, while remaining under bullish sentiment to head for the 1.3600 mark.
Britain's manufacturing sector grew at a weaker pace in December, following four-year high reached in the prior month, while still remaining a bright spot in the UK economy heading to 2018. in contrast to solid expansion in the Euro zone, the HIS Markit/CIPS Manufacturing PMI for Britain fell to 56.3 in the reported month. The PMI remained above its yearly average for a whole 2017, despite some cooling in new business, export orders, output and employment growth.
| Historical Data Table: UK Manufacturing PMI | Economic Calendar for 03.01.2017 | ||||||||
| Date | 01.09.2017 | 02.10.2017 | 01.11.2017 | 01.12.2017 | 02.01.2018 | 9:30 AM | UK Construction PMI | ||
| Actual | 56.9 | 55.9 | 56.3 | 58.2 | 56.3 | 3:00 PM | ISM Manufacturing PMI | ||
| Forecast | 55.0 | 56.3 | 55.8 | 56.6 | 58.0 | 7:00 PM | FOMC Meeting Minutes | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.35562 | 1.35536 | -0.02% | GBP/USD | 50.51% | 49.49% | |||
| EUR/GBP | 0.88912 | 0.88915 | 0.00% | EUR/GBP | 34.74% | 65.26% | |||
| GBP/CAD | 1.69657 | 1.69751 | 0.06% | GBP/CAD | 60.20% | 39.80% | |||
| GBP/JPY | 152.355 | 152.288 | -0.04% | GBP/JPY | 51.15% | 48.85% | |||