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August 2016

UK construction Markit PMI better than expected

Published: Tuesday 02 August 2016

This morning markets opened off the back of an RBA interest rate cut and the Bank of Japan confirming extra stimulus measures with the Asian sessions dominating the start of the week. The Australian Dollar and Japanese Yen both going against the expected curve and became the strongest currencies of the week so far.
 
That said the Pound has made an assured rally this morning which can only be as a result of a slight sentiment adjustment because nothing technical has been released in a positive light. This morning we saw the release of UK construction Markit PMI which was shown to perform better than expected although it still contracted.
 
The US Dollar remains the weakest currency of the week with poor manufacturing and construction figures from yesterday. 

Latest FX news by William Busby