The sterling pound is strengthened with preliminary data from the PMI of the United Kingdom surprisingly optimistic
The pound sterling (GBP) is strengthened against its main peers on Friday since the preliminary data of the purchasing managers index (PMI) of the United Kingdom Global/Cips (UK) for January have been surprisingly stronger than expected. The agency reported that the compound PMI expanded at a faster rate, reaching 50.9 from 50.4 in December. Economists expected the PMI to have barely grown, with the data standing at 50.0. The robust growth of the compound PMI came from a strong business activity both in the services sector and in the manufacturing sector.
Although the general business activity remains robust in January, S&P global analysts showed concerns about the weakening of labor demand in the midst of the fall in sales and concerns about business perspectives. Read more…
GBP/USD Forecast: Libra sterling shows signs of life before PMI data
The GBP/USD remains firm on early Friday and trades in positive territory slightly below 1,2400 after registering modest daily profits on Thursday. Market participants expect the preliminary reports of the January PMI of the United Kingdom and the USA.
The GBP/USD remains firm on early Friday and trades in positive territory slightly below 1,2400 after registering modest daily profits on Thursday. Market participants expect the preliminary reports of the January PMI of the United Kingdom and the US to read more …
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
