Matt Simpson, CFTe, MSTA
CityIndex
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GBP: Manufacturing PMI saw a peak of 58.4 in Dec '13 and has increased its decline since. Expected to remain steady at 52.5, any number close to 50 should bring further downwards pressure on GBP but a shock number below 50 (industry contraction) would come as a nasty surprise to GBP bulls.
US: Employment data today is a prelude for NFP this Friday. However is the event of a large deviation from expectations (+/- 50k) then it should provide some extra volatility. The headline figure is from Manufacturing PMI which is expected to soften slightly from previous month. However if we come in above 59 then this should provide even more fuel to the 12-week bullish fire for Greenback and see EURUSD in particular soften even more.
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