{"id":61217,"date":"2014-10-01T07:59:20","date_gmt":"2014-10-01T11:59:20","guid":{"rendered":"http:\/\/countingpips.com\/?p=61217"},"modified":"2014-10-01T07:41:34","modified_gmt":"2014-10-01T11:41:34","slug":"sterling-moves-lower-following-weak-pmi-report","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/sterling-moves-lower-following-weak-pmi-report\/","title":{"rendered":"Sterling Moves Lower Following Weak PMI Report"},"content":{"rendered":"
October 1, 2014<\/div>
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Article by ForexTime<\/a><\/p>\n

The GBP\/USD has turned lower on Wednesday after the UK reported a worse than expected purchasing managers\u2019 report for<\/span> September.\u00a0 Traders will need to absorb a plethora of data Wednesday, including the U.S. ISM PMI report<\/span> released later today.\u00a0 With the employment report scheduled to be released Friday, the balance of the week is likely to be volatile.<\/p>\n

The U.K. Markit manufacturing PMI fell to a 17-month low of 51.6 in September from a downwardly revised 52.2 in August. The median forecast had been for 52.5. Growth in new orders fell for a third month in a row. Input prices fell for the first time in five months. Traders will also need to absorb tomorrow\u2019s construction PMI and Friday\u2019s release of the services PMI which<\/span> should offset the weakness in the manufacturing survey to some degree, though the slowdown in the manufacturing sector fits the BoE\u2019s caution of a growth slowdown during Q4 due to the weakening economic picture across the Channel.<\/p>\n

In the U.S. looking<\/span> past Wednesday\u2019s ISM manufacturing report for September, the week ahead holds ADP private payrolls and the government employment report on Friday.\u00a0 The median forecast of a 200k September nonfarm<\/span> payroll gain reflects continued upside risk signaled by ongoing tightness in initial claims, a firm Q3 producer sentiment and ADP trajectory, a solid vehicle assembly rate and an ongoing consumer confidence climb back above mid-2013 levels.\u00a0 A stronger than expected number would likely help the dollar regain traction pushing the GBP\/USD below support levels.<\/p>\n

\"gbp-10014\"<\/a><\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

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Article by ForexTime The GBP\/USD has turned lower on Wednesday after the UK reported a worse than expected purchasing managers\u2019 report for September.\u00a0 Traders will need to absorb a plethora of data Wednesday, including the U.S. ISM PMI report released later today.\u00a0 With the employment report scheduled to be released Friday, the balance of the […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-61217","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=61217"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61217\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=61217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=61217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=61217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}