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GBP/USD Weekly Forecast – 05 June – 09 June

Sunday, Jun 04 2017
GBP/USD Weekly Forecast – 05 June – 09 June

Events that marked the week:

Thursday's session was marked by UK Manufacturing PMI data. The UK manufacturing sector remained resilient in May, sustaining most of the growth momentum gained during the prior survey month. At 56.7, the seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI® ) was only slightly below April’s three-year high of 57.3 and signalled an improvement in operating conditions for the tenth successive month. Manufacturing production and new orders both expanded at above survey average rates.

Friday's session brought UK Construction PMI figures. The seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI® ) posted 56.0 in May, up sharply from 53.1 in April, to signal the strongest expansion of overall business activity for 17 months. While the headline index signalled robust growth momentum during May, the latest reading was still much weaker than the post-crisis peak seen in January 2014 (64.6).

 

This week markets will be looking at:

 

Services PMI (Monday 10:30)

Parliamentary Elections (Thursday)

Industrial Production (Friday 10:30)

More in this category: « AUD/USD Weekly Forecast – 05 June – 09 June EUR/USD Weekly Forecast – 05 June – 09 June »

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