FOREX TradingCharts.com

Forex News: Pound Falls As U.K. Construction Growth Eases More

Pound Falls As U.K. Construction Growth Eases More Than Forecast

07/04/2017 - 06:27:00 (RTTNews)

(RTTNews) - The British pound weakened against most major currencies in the European session on Tuesday, after data showed that the British construction sector growth eased at a faster-than-expected pace in June, after reaching to a 17-month high in May.

Data from IHS Markit and Chartered Institute of Procurement & Supply showed that the seasonally adjusted construction Purchasing Managers' Index, or PMI, dropped to 54.8 in June from 56.0 in May. Economists had expected the index to fall to 55.0.

Meanwhile, the European share markets traded lower amid fresh tensions on the Korean peninsula after North Korea launched another ballistic missile in the direction of Japan, prompting U.S. President Donald Trump to declare it is "hard to believe South Korea and Japan will put up with this much longer".

In the Asian trading toady, the pound held steady against its major rivals.

In the European trading, the pound fell to a 6-day low of 1.2915 against the U.S. dollar and a 4-day low of 0.8790 against the euro, from early highs of 1.2959 and 0.8764, respectively. If the pound extends its downtrend, it is likely to find support around 1.26 against the greenback and 0.89 against the euro.

Against the Swiss franc, the pound edged down to 1.2452 from early highs of 1.2479. The pound is likely to find support around the 1.22 region.

Meanwhile, the pound rose to 146.61 against the yen, from an early low of 145.98. On the upside, 148.00 is seen as the next resistance level for the pound.

Looking ahead, Canada Markit's manufacturing PMI for June is slated for release in the New York session.

U.S. banks will be closed in observance of Independence Day holiday.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Sinks To Near 2-Year Low Against Euro (04 hr(s), 32 min(s), 14 sec(s) ago)
(RTTNews) - The dollar is losing ground against all of its major rivals Friday afternoon. The buck ...Full Story»

Canadian Dollar Advances As CPI, Retail Sales Beat Forecasts (08 hr(s), 17 min(s), 14 sec(s) ago)
(RTTNews) - The Canadian dollar climbed against its major opponents in the European session on Fri ...Full Story»

U.S. Dollar Falls On U.S. Political Concerns (09 hr(s), 17 min(s), 14 sec(s) ago)
(RTTNews) - The U.S. dollar lost ground against its major opponents in the European session on Fri ...Full Story»

Loonie Rises After Canada CPI, Retail Sales (10 hr(s), 14 min(s), 14 sec(s) ago)
(RTTNews) - Following the release of Canada CPI for June and retail sales for May at 8:30 am ET Fr ...Full Story»

Loonie Mixed Ahead Of Canada CPI, Retail Sales (10 hr(s), 20 min(s), 14 sec(s) ago)
(RTTNews) - Canada CPI for June and retail sales for May are due at 8:30 am ET Friday. Ahead of th ...Full Story»

U.S. Dollar Slides Against Most Majors (11 hr(s), 11 min(s), 14 sec(s) ago)
(RTTNews) - The U.S. dollar declined against most major opponents in the European session on Frida ...Full Story»

Euro Retreats As ECB Forecasters Cut Inflation Outlook (12 hr(s), 02 min(s), 14 sec(s) ago)
(RTTNews) - The euro trimmed some of its early gains against its major counterparts in the early E ...Full Story»

Pound Little Changed After U.K. Public Sector Borrowing Data (14 hr(s), 14 min(s), 14 sec(s) ago)
(RTTNews) - Following the release of the U.K. public sector finance data for June at 4:30 am ET Fr ...Full Story»

Search

FOREX NEWS

Dollar Sinks To Near 2-Year Low Against Euro

07/21/2017 - 14:17 PM (RTTNews)
(RTTNews) - The dollar is losing ground against all of its major rivals Friday afternoon. The buck ...Full Story>>

Canadian Dollar Advances As CPI, Retail Sales Beat Forecasts

07/21/2017 - 10:30 AM (RTTNews)
(RTTNews) - The Canadian dollar climbed against its major opponents in the European session on Fri ...Full Story>>

U.S. Dollar Falls On U.S. Political Concerns

07/21/2017 - 09:30 AM (RTTNews)
(RTTNews) - The U.S. dollar lost ground against its major opponents in the European session on Fri ...Full Story>>

Loonie Rises After Canada CPI, Retail Sales

07/21/2017 - 08:34 AM (RTTNews)
(RTTNews) - Following the release of Canada CPI for June and retail sales for May at 8:30 am ET Fr ...Full Story>>

Loonie Mixed Ahead Of Canada CPI, Retail Sales

07/21/2017 - 08:28 AM (RTTNews)
(RTTNews) - Canada CPI for June and retail sales for May are due at 8:30 am ET Friday. Ahead of th ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.