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.
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.
Tags: GBP/USD, News Trading, UK Services PMI
By fxvnpro
