GBP looks to UK services PMI data for support
City Index February 5, 2014 1:56 PM
<p>UK services PMI is to be released this morning and is expected to climb to 59.1. This should keep GBP afloat if the figure is […]</p>
UK services PMI is to be released this morning and is expected to climb to 59.1. This should keep GBP afloat if the figure is as expected and would look to the downside if any slowdown is shown here after yesterday’s construction and PMI figures struggled to hold gains after a better reading.
Europe’s final PMI is expected to be the same as the last reading at 51.9. Retail sales are expected to drop to -0.7%. This could keep the euro under pressure for the day.
In the US, we kick off with ADP data, which always gets the markets moving with its unpredictable figures. The last two months were better than expected and gave the USD strength going into the non-farm payrolls on Friday. It’s expected to be 191k, which is a drop from the last at 238k.
Last of all for the US will be the ISM non-manufacturing PMI data, which is expecting a slight growth to 53.6 from the previous 53.0.
Supports 1.3494 1.3471 1.3448 | Resistance 1.3539 1.3561 1.3584
Supports 101.04 100.39 100.02 | Resistance 102.05 102.41 103.06
Supports 1.6276 1.6222 1.6188 | Resistance 1.6363 1.6398 1.6451
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