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The British Pound weakened against the Greenback, following the UK construction PMI data release on Wednesday. The GBP/USD currency pair lost only five pips, or 0.03%, to continue fluctuating and going even lower to the 1.4064 level.
The Markit revealed lower-than-expected data in Britain's purchasing managers index in March. The construction PMI stepped lower to 47.0, compared to 51.4 in the prior period. One of the main reasons that caused the return to the contraction is March's bad weather, and there is a real correlation in between. Moreover, Input cost inflation is getting closer to a 20-month low, and this was the sharpest decline in civil engineering in the last five years.
| Historical Data Table: UK Construction PMI | Economic Calendar for 05.04.2018 | ||||||||
| Date | 04.12.2017 | 03.01.2018 | 02.02.2018 | 02.03.2018 | 04.04.2018 | 1:30 AM | AUD Trade Balance | ||
| Actual | 53.1 | 52.2 | 50.2 | 51.4 | 47 | 8:30 PM | UK Services PMI | ||
| Forecast | 51.2 | 51.1 | 52 | 50.5 | 50.9 | 12:30 PM | CAD Trade Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.40825 | 1.40779 | -0.03% | GBP/USD | 50.56% | 49.44% | |||
| EUR/GBP | 0.87399 | 0.87406 | 0.01% | EUR/GBP | 30.14% | 69.86% | |||
| GBP/CAD | 1.80538 | 1.80466 | -0.04% | GBP/CAD | 25.18% | 74.82% | |||
| GBP/JPY | 149.427 | 149.336 | -0.06% | GBP/JPY | 41.97% | 58.03% | |||