Filed Under:  News Trading

ReviewBrokers – News Trading – UK Services PMI 04:30 AM( NY Time ), December 3, 2020

3rd December 2020   ·   0 Comments

The Services Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the services sector. A reading above 50 indicates expansion in the sector; a reading below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.

A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
News Trading – USA ADP Nonfarm Payroll
UK Services PMI –    04:30 AM NY time   (Thursday, December 3)

Traded pair                 Previous   Forecast     Deviation
GBP/USD                       45.8           45.8                  ±2.5

Buy      GBP/USD      if actual figure is or is below   48.3
Sell      GBP/USD     if actual figure is or is above        43.2

Expected move during first 30 minutes after the release is 50  pips or more.

Global Economic Calendar

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Tags:  GBP/USD, News Trading, UK Services PMI

By fxvnpro

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