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UK Services PMI rebounded in June

Friday, Jul 03 2015
At 58.5, UK Services PMI was consistent with marked and accelerated growth in June, having posted a five-month low of 56.5 during May. Analysts were forecasting increase to 57.4. The latest reading highlighted a post-election rebound in activity, and meant that the second quarter of 2015 was the strongest on average since Q3 2014.
  
Data showed that activity growth was supported by another robust expansion in new work inflows during June. Although easing marginally to the weakest so far this year, the rate of increase remained faster than the series average.  
 
After the data Sterling was pushed lower and is currently being traded few points above 1.5620 level. Pair is likely to find support around 1.5580 area and resistance above 1.5660 level. There will be no major data releases in the rest of the session.
More in this category: « Euro higher on mixed Services PMI data Eurozone Retail Sales rose 0.2% in May »

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