UK Business Activity Data
- Composite PMI (oct), fact 50.0, previous value 49.3.
- Index of business activity in the services sector (October), fact 50.0, forecast 49.7.
Business activity in the UK accelerated in October, surpassing market expectations. The values shown for business activity indicate a resumption of growth in business activity in the UK after a two-month decline.
Fig. 1. Business activity index in the UK services sector
The British pound reacted very restrained to the positive data on business activity, demonstrating restrained attempts to grow, while maintaining multidirectional dynamics. GBP/USD is limited to attempts of correct after a decline and the trading range from 1.2930-50 to 1.2850-30.
Fig. 2. GBP/USD chart
Read also: “The results of the ECB September
meeting for the global economy ”
Hanzenko Anton
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