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The Sterling rose against the US Dollar ahead the report on the UK manufacturing sector activity. Stronger-than-anticipated data for February drove the GBP/USD pair's exchange rate up by six base points, or 0.05%, to reach the 1.3759 level right after the release.
Britain's manufacturing sector continued to lose its strength last month; in fact, it was its lowest growth in eight months. Despite the fact that the number of orders had grown, output increased more slowly. Markit/CIPS reported that the UK Manufacturing PMI fell to 55.2 in the reported month, the second-lowest level since June 2016 Brexit vote, but still an inch above the 55.0 long-term average.
| Historical Data Table: UK Manufacturing PMI m/m | Economic Calendar for Feb 01.03.2018 | ||||||||
| Date | 01.11.2017 | 01.12.2017 | 02.01.2018 | 01.02.2018 | 01.03.2018 | 1:30 PM | CAD Current Account | ||
| Actual | 56.3 | 58.2 | 56.3 | 55.3 | 55.2 | 3:00 PM | USD Fed Chair Powell Testifies | ||
| Forecast | 55.8 | 56.6 | 58 | 56.5 | 55.1 | 3:00 PM | USD ISM Manufacturing PMI | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.37534 | 1.37597 | 0.05% | GBP/USD | 51.13% | 48.87% | |||
| EUR/GBP | 0.88652 | 0.88578 | -0.08% | EUR/GBP | 28.71% | 71.29% | |||
| GBP/CAD | 1.76706 | 1.76763 | 0.03% | GBP/CAD | 29.86% | 70.14% | |||
| GBP/JPY | 146.849 | 146.934 | 0.06% | GBP/JPY | 49.20% | 50.80% | |||