wrapper

GBP/USD Daily Forecast - 3 July

Monday, Jul 02 2018
GBP/USD Daily Forecast - 3 July

Yesterday’s session brought UK Manufacturing PMI figures. The performance of the UK manufacturing sector remained relatively subdued in June, especially when compared to the marked pace of growth seen before the turn of the year. Output growth moderated, to largely offset a mild acceleration in new order growth and improved job creation. The survey was conducted between 12-26 June. At 54.4 in June, the seasonally adjusted HIS Markit/CIPS Purchasing Managers’ Index® (PMI® ) was a tick above May’s downwardly revised reading of 54.3 (originally 54.4) and stands almost four points below the 51-month high reached in November last year.

In the US session ISM Manufacturing PMI figures were released. A measure of U.S. manufacturing activity surged in June likely as steel and aluminum tariffs caused disruptions to the supply chains, resulting in factories taking longer to deliver goods. The Institute for Supply Management (ISM) said on Monday its index of national factory activity jumped to a reading of 60.2 last month from 58.7 in May. A reading above 50 in the ISM index indicates an expansion in manufacturing, which accounts for about 12 percent of the U.S. economy.

Tomorrow, from the UK, Construction PMI figures will be released. Analysts predict no significant change. There will be no major data releases in the US part of the session.

Figures to watch:

Construction PMI (Tuesday 9:30)

More in this category: « AUD/USD Daily Forecast - 3 July EUR/USD Daily Forecast - 3 July »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.