UK Preliminary Services PMI improves to 52.4 in July vs. 52.5 expected
|- UK Services PMI rises to 52.4 in July, misses estimates.
- Manufacturing PMI in the UK climbs to 51.8 in July.
- GBP/USD keeps losses below 1.2900 after mixed UK business PMIs.
The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) improved from 50.9 in June to 51.8 in July. The market forecast was for 51.1.
Meanwhile, the Preliminary UK Services Business Activity Index rose to 52.4 in July, missing the estimated 52.5 print. The previous figure stood at 52.1.
Commenting on the flash PMI data, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said: “The flash PMI survey data for July signal an encouraging start to the second half of the year, with output, order books and employment all growing at faster rates amid rebounding business confidence, while price pressures moderated.”
“The first post-election business survey paints a welcoming picture for the new government, with companies operating across manufacturing and services having gained optimism about the future, reporting a renewed surge in demand and taking on staff in greater numbers,” Chris added.
FX implications
GBP/USD remains unimpressed near 1.2885 after mixed UK PMI data. The pair is trading 0.14% lower on the day, as of writing.
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.20% | 0.16% | -0.53% | 0.07% | 0.28% | 0.52% | -0.21% | |
| EUR | -0.20% | -0.04% | -0.74% | -0.14% | 0.09% | 0.32% | -0.41% | |
| GBP | -0.16% | 0.04% | -0.68% | -0.09% | 0.12% | 0.37% | -0.38% | |
| JPY | 0.53% | 0.74% | 0.68% | 0.62% | 0.82% | 1.05% | 0.32% | |
| CAD | -0.07% | 0.14% | 0.09% | -0.62% | 0.22% | 0.46% | -0.29% | |
| AUD | -0.28% | -0.09% | -0.12% | -0.82% | -0.22% | 0.24% | -0.53% | |
| NZD | -0.52% | -0.32% | -0.37% | -1.05% | -0.46% | -0.24% | -0.74% | |
| CHF | 0.21% | 0.41% | 0.38% | -0.32% | 0.29% | 0.53% | 0.74% |
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 British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (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.