FOREX TradingCharts.com

Forex News: Pound Rises As U.K. Services Growth Rebounds More-Than-Expec

Pound Rises As U.K. Services Growth Rebounds More-Than-Expected

04/05/2017 - 05:24:00 (RTTNews)

(RTTNews) - The British pound strengthened against the other major currencies in the early European session on Wednesday, after data showed that U.K. services growth rebounded more-than-expected in March.

Data from IHS Markit and the Chartered Institute of Procurement and Supply showed that the U.K. CIPS Purchasing Managers' Index for the services sector rose to 55.0 in March from February's 5-month low of 53.3. Economists had expected the index increase slightly to 53.4.

Both output and new orders climbed at the sharpest pace in three months. Despite this, the rate of job creation in March was only marginal and the weakest recorded since August 2016.

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

In the European trading, the pound rose to 0.8548 against the euro, from an early 5-day low of 0.8589. The pound may test resistance near the 0.84 region.

Against the U.S. dollar, the yen and the Swiss franc, the pound advanced to 1.2489, 138.27 and 1.2511 from early lows of 1.2423, 137.46 and 1.2450, respectively. If the pound extends its uptrend, it is likely to find resistance around 1.26 140.00 against the greenback, 137.46 against the yen and 1.26 against the franc.

Looking ahead, U.S. ADP private sector jobs data for March, U.S. Markit's services PMI for March and U.S. crude oil inventories data are slated for release in the New York session.

At 8:30 am ET, Bank of England external MPC member Gertjan Vlieghe is expected to speak at Bloomberg, in London.

At 2:00 pm ET, the minutes of the latest Federal Reserve meeting is due to be published.

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 Mixed After GDP Data Disappoints (13 min(s), 13 sec(s) ago)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story»

Dollar Little Changed Following U.S. Consumer Sentiment Index (40 min(s), 13 sec(s) ago)
(RTTNews) - Following the release of the University of Michigan's final report on consumer sen ...Full Story»

Dollar Rises Ahead Of U.S. Consumer Sentiment Index (31 min(s), 13 sec(s) ago)
(RTTNews) - The University of Michigan releases final report on consumer sentiment in April at 10: ...Full Story»

Dollar Rises Despite Weak U.S. GDP Data (01 min(s), 13 sec(s) ago)
(RTTNews) - The U.S. dollar rose against its key counterparts in the European session on Friday, e ...Full Story»

Dollar Slightly Up After U.S. GDP Data (13 min(s), 14 sec(s) ago)
(RTTNews) - Following the release of U.S. advanced GDP data for the first quarter at 8:30 am ET Fr ...Full Story»

Loonie Rises After Canada GDP Data (13 min(s), 14 sec(s) ago)
(RTTNews) - After the release of Canada gross domestic product data for February and industrial pr ...Full Story»

Russian Ruble Advances To 2-day High Vs U.S. Dollar Despite Russia Rate Cut (16 min(s), 13 sec(s) ago)
(RTTNews) - The Russian Ruble climbed against the U.S. dollar in European deals on Friday amid hig ...Full Story»

Euro Climbs As Eurozone Inflation Moves Back To ECB Target (16 min(s), 13 sec(s) ago)
(RTTNews) - The euro advanced against its major counterparts in the European session on Friday, af ...Full Story»

Search

FOREX NEWS

Dollar Mixed After GDP Data Disappoints

04/28/2017 - 14:36 PM (RTTNews)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story>>

Dollar Little Changed Following U.S. Consumer Sentiment Index

04/28/2017 - 10:04 AM (RTTNews)
(RTTNews) - Following the release of the University of Michigan's final report on consumer sen ...Full Story>>

Dollar Rises Ahead Of U.S. Consumer Sentiment Index

04/28/2017 - 09:55 AM (RTTNews)
(RTTNews) - The University of Michigan releases final report on consumer sentiment in April at 10: ...Full Story>>

Dollar Rises Despite Weak U.S. GDP Data

04/28/2017 - 09:24 AM (RTTNews)
(RTTNews) - The U.S. dollar rose against its key counterparts in the European session on Friday, e ...Full Story>>

Loonie Rises After Canada GDP Data

04/28/2017 - 08:36 AM (RTTNews)
(RTTNews) - After the release of Canada gross domestic product data for February and industrial pr ...Full Story>>
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.