- UK Manufacturing PMI contracted to 48.7 in April, missing estimates of 50.3.
- Services PMI in the UK rose sharply to 54.9 in April.
- GBP/USD holds higher ground near 1.2370 after mixed UK business PMIs.
The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) fell sharply from 50.3 in March to 48.7 in April, missing the estimated 50.3 reading.
Meanwhile, the Preliminary UK Services Business Activity Index jumped to 54.9 in April, beating the market consensus of 53.0. The previous figure stood at 53.1.
Commenting on the flash PMI data, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said: “Early PMI survey data for April indicate that the UK economy's recovery from recession last year continued to gain momentum. ‘
“Improved growth in the service sector offset a renewed downturn in manufacturing to propel overall business growth to the fastest for nearly a year, indicating that GDP is rising at a quarterly rate of 0.4% after a 0.3% gain in the first quarter,” Chris added.
FX implications
GBP/USD is extending the advance toward 1.2400 following the mixed UK PMI data. The pair is adding 0.28% on the day to trade at 1.2383, as of writing.
Pound Sterling price today
The table below shows the percentage change of Pound Sterling (GBP) against listed major currencies today. Pound Sterling was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.22% | -0.25% | -0.02% | 0.00% | 0.03% | 0.14% | -0.08% | |
| EUR | 0.22% | -0.02% | 0.21% | 0.24% | 0.26% | 0.38% | 0.14% | |
| GBP | 0.24% | 0.02% | 0.22% | 0.16% | 0.27% | 0.38% | 0.17% | |
| CAD | 0.02% | -0.19% | -0.22% | 0.03% | 0.05% | 0.17% | -0.06% | |
| AUD | 0.00% | -0.23% | -0.18% | -0.04% | 0.03% | 0.14% | -0.10% | |
| JPY | -0.03% | -0.25% | -0.28% | -0.06% | 0.00% | 0.12% | -0.11% | |
| NZD | -0.14% | -0.37% | -0.39% | -0.17% | -0.13% | -0.11% | -0.23% | |
| CHF | 0.10% | -0.12% | -0.16% | 0.06% | 0.10% | 0.11% | 0.23% |
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 Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.