Will the pound keep standing?

Will the pound keep standing?

Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time. 

Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD, GBP/CHF

The British economy is facing a number of difficulties. Not that the other economies are just fine, but there is an overlapping of various problems peculiar to the UK. Brexit’s gloomy outlook, end of the state’s financial support, and countrywide job cuts are the central issues. So far, the GBP seems to be the only character on the stage that is not panicking so far. That’s why the release of the Services and Manufacturing PMIs may become a crucial crossroads for the British pound to either keep standing or finally succumb to the overwhelming pressure of issues. If the figures are even slightly higher than thought, that may be a stepping stone for the GBP to take an upward trajectory against its counterparts. Otherwise, it will tremble – at least. 

  • If the results beat the expectations, the GBP will rise.
  • If the figures are worse than forecasts, the GBP will fall.

Check the economic calendar

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Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

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S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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