GBP/USD Daily Forecast – 04 October

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Tuesday, Oct 03 2017

GBP/USD Daily Forecast – 04 October

Yesterday's session was marked by UK Construction PMI data. September data revealed a difficult month for the UK construction sector, as a sustained drop in new work led to the first reduction in overall business activity since August 2016. Survey respondents attributed the drop in workloads to fragile confidence and subdued risk appetite among clients, especially in the commercial building sector.

The seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI®) registered 48.1 in September, down from 51.1 in August and below the crucial 50.0 no-change threshold for the first time in 13 months. The latest reading signalled the fastest decline in overall construction output since July 2016.

From the UK, tomorrow, Services PMI data will be released. Small incline to 53.3 is anticipated. In the US session ISM Non-Manufacturing PMI figures will be released. Analysts predict no change.

Figures to watch:

ISM Non-Manufacturing PMI (Wednesday 16:00)

More in this category: « AUD/USD Daily Forecast – 04 October EUR/USD Daily Forecast – 04 October »

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