Sterling little changed in a quite Monday's session

wrapper

News
Analysis
- Fundamental
  
  Daily fundamental analysis
  
  Weekly fundamental analysis
- Technical
  
  Daily technical analysis
  
  Weekly technical analysis
Charts
Basic terms
Education
Calendar
Contact

Monday, May 04 2015

With no major data releases from the UK today, markets are still being influenced by weak Manufacturing PMI reading as well as upcoming general elections. The UK manufacturing sector recorded a drastic slowdown in March, a survey showed on Friday.Markit’s monthly Purchasing Managers’ Index (PMI) for manufacturing fell to 51.9 in April from 54 in March, the biggest decline since February 2013.

Despite Prime Minister David Cameron being Britain's most popular major party leader and his Conservative Party the most trusted on the economy after helping revive it, recent polls are showing neither party has majority on the upcoming elections and even if Cameron wins but doesn't secure an overall majority, he could face a leadership challenge from inside his famously ruthless party before too long.

Sterling is currently being traded few points above 1.5110 level. Pair is likely to find support around 1.5050 and resistance above 1.5180 area. There will be no major data releases in the rest of the session.

More in this category: « Spanish manufacturing sector down, Italian up Australian Trade Balance deficit narrowed less than expected »

Latest from Editor

Popular

UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most…
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures…
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports…
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Menu

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.