
The British monthly GDP is announced on Friday at 09:00 MT time.
Do you know that services sector accounts for 80% of the UK economy? British economy gets a lot from financial, IT and professional services. As a result, the country’s services index is even more important than its manufacturing index.
The UK services PMI will be out at 11:30 MT time on July 4. PMI stands for Purchasing Managers’ Index. It shows whether managers of British companies are optimistic or pessimistic about the future. A reading above 50.0 indicates industry expansion, while a reading below 50 indicates contraction. Traders also compare the actual index with its previous and forecast levels.
The difference between the forecast and the actual figure sets the currency market in motion. Many traders will open positions in GBP/USD and EUR/GBP after the release.
• If the data is greater than the forecast, the GBP will rise.
• If the data is weaker than the forecast, the GBP will go down.
The British monthly GDP is announced on Friday at 09:00 MT time.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The USD continues dipping, while the GBP is rising on hopes for the Brexit deal done today.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.