UK flash Composite PMI rises to 52.1, beats 51.4 estimates
United Kingdom’s (UK) preliminary S&P Global Composite Purchasing Managers’ Index (PMI) comes in higher at 52.1 compared to expectations of 51.4 and the November's reading of 51.2. The Services and the Manufacturing PMI jumps to 52.1 and 51.2, respectively.
"December’s flash PMI surveys brought welcome news on faster economic growth at the end of the year, with businesses buoyed in part by the post-Budget lifting of uncertainty. The PMI is consistent with GDP growth accelerating to 0.2% in December, albeit with a more modest 0.1% gain signalled for the fourth quarter as a whole," Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said.
Market reaction
GBP/USD gains further around 1.3400 following the release of the UK PMI data.
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.05% | -0.27% | -0.26% | 0.02% | 0.00% | -0.05% | -0.04% | |
| EUR | 0.05% | -0.23% | -0.22% | 0.07% | 0.06% | -0.00% | 0.00% | |
| GBP | 0.27% | 0.23% | 0.00% | 0.30% | 0.29% | 0.22% | 0.24% | |
| JPY | 0.26% | 0.22% | 0.00% | 0.29% | 0.28% | 0.21% | 0.23% | |
| CAD | -0.02% | -0.07% | -0.30% | -0.29% | -0.02% | -0.07% | -0.05% | |
| AUD | -0.01% | -0.06% | -0.29% | -0.28% | 0.02% | -0.07% | -0.04% | |
| NZD | 0.05% | 0.00% | -0.22% | -0.21% | 0.07% | 0.07% | 0.00% | |
| CHF | 0.04% | -0.01% | -0.24% | -0.23% | 0.05% | 0.04% | -0.01% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Author
Sagar Dua
FXStreet
Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.
