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UK Manufacturing PMI declined more than expected

February saw the rate of expansion in the UK manufacturing sector slow back towards the stagnation mark. Output growth eased sharply, as levels of incoming new business showed littlemovement on one month earlier. The slowdown was also reflected in the labour market, with job losses registered for the second straight month.  Read more...

GBP/USD Daily Forecast – 01 March

Yesterday's session brought Net Lending to Individuals data. Total lending to individuals increased by £5.3 billion in January, compared to the average monthly increase of £4.7 billion over the previous six months. The three-month annualised and twelve-month growth rates were 4.2% and 3.5% respectively. Lending secured on dwellings increased by £3.7 billion in January, compared to the average monthly increase of £3.4 billion over the previous six months. The three-month annualised and twelve-month growth rates were 3.4% and 2.8% respectively.

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GBP/USD Daily Forecast – 01 March

After it found support around 1.3850 handle, Sterling managed to rebound in the course of the yesterday's session and managed to break above 1.39 handle. However, this could not be taken as a sign of any serious uptrend, but more as a slight consolidation after huge decline in the course of the last week. As for Tuesday any type of supportive candles around 1.3850 level and 1.38 area, would be short-term buying signal, while resistive candles near 1.3980 area, would offer short-term buying opportunity. Read more...

Net Lending to Individuals increased by £5.3 billion

Total lending to individuals increased by £5.3 billion in January, compared to the average monthly increase of £4.7 billion over the previous six months. The three-month annualised and twelve-month growth rates were 4.2% and 3.5% respectively. Lending secured on dwellings increased by £3.7 billion in January, compared to the average monthly increase of £3.4 billion over the previous six months. The three-month annualised and twelve-month growth rates were 3.4% and 2.8% respectively.  Read more...

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