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GBP/USD Weekly Forecast - 5 March - 9 March

Saturday, Mar 03 2018
GBP/USD Weekly Forecast - 5 March - 9 March

Events that marked the week:

Thurday's session was marked by UK Manufacturing PMI figures. The upturn in the UK manufacturing sector slowed further during February. At 55.2, the seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI®) fell to an eight month low and lost further ground after hitting a 51-month high last November. Manufacturing production increased at the slowest pace for 11 months in February, with decelerations seen across the consumer, intermediate and investment goods sectors.

Friday's session brought UK Construction PMI figures. At the same time, strong input cost pressures were reported in February, with higher raw material prices, fuel bills and staff wages reported by survey respondents. At 51.4 in February, the seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI®) edged up from January’s four-month low of 50.2. This signalled a marginal increase in construction output during February, with the index also weaker than seen on average in 2017 (52.3).

 

This week markets will be looking at:

 

Services PMI (Monday 10:30)

Industrial Production (Friday 10:30)

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