Source : http://jtprotrading.blogspot.com/2011/08/trading-news-uk-manufacturing-pmi-430am.html
UK Manufacturing PMI (Leading Indicator)
Forecast : 51.1
Previous : 51.3
The UK Manufacturing data due to be released in 30 minutes is our first important indicator of the week. Many traders will keep an eye on this data release as it will help to shape the trend and strength of the currency in the coming weeks and indirectly have an impact on future indicators like employment and retail etc.
The Plan
A +(-) of 2.5 to 3 will be enough to move the market. If the result is positive (52.6 above), we can look into buying the GBP/USD, whereas a sell into the GBP/USD will be expected if the result comes out to 48.6 and below. Good luck.
UK Manufacturing PMI (Leading Indicator)
Forecast : 51.1
Previous : 51.3
The UK Manufacturing data due to be released in 30 minutes is our first important indicator of the week. Many traders will keep an eye on this data release as it will help to shape the trend and strength of the currency in the coming weeks and indirectly have an impact on future indicators like employment and retail etc.
The Plan
A +(-) of 2.5 to 3 will be enough to move the market. If the result is positive (52.6 above), we can look into buying the GBP/USD, whereas a sell into the GBP/USD will be expected if the result comes out to 48.6 and below. Good luck.
