Sterling jumped almost 30 pips against the dollar on Tuesday after data showed expansion in the U.K. construction sector in August, giving a signal that the economy is gathering pace.
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Forex news – sterling jumps after uk construction pmi rises most since 2007
1. Resources for the Independent Trader Blog
Forex News – Sterling jumps after UK
construction PMI rises most since 2007
Posted on September 3, 2013 by the XM Investment Research Desk at 8:58 am GMT
Sterling jumped almost 30 pips against the dollar on Tuesday after data showed
expansion in the U.K. construction sector in August, giving a signal that the economy is
gathering pace.
According to data from Markit/CIPS construction purchasing managers index (PMI) rose
to 59.1 last month at the fastest pace in nearly six years to its highest level since
September 2007 driven by residential building.
The PMI rose from 57.0 in July, staying far above the 50 mark level demarcating growth
from contraction for a fourth month and was higher than forecast for a reading of 58.4.
The construction sector was the biggest drag on the U.K. gross domestic product in the
first quarter of this year but returned to growth in the second quarter.
2. The data today comes a day after stronger manufacturing PMI numbers reported on
Monday.
“The latest construction PMI figures are yet another indication that the UK economy has
performed impressively over the summer months,” said senior economist at Markit, Tim
Moore .
“A steep upturn in civil engineering activity suggested that public sector demand has
joined residential building as a key driver of construction output growth during August.”
GBPUSD rose to $1.5601 a few minutes after the data at 9:30 am London time from a
pre-data level of $1.5573.
$9,999 GOLD & SILVER DEMO COMPETITION. Registration Period 19TH AUG - 19TH
SEP register here
Pierre A Pienaar
3. Retired in 2011 from trading and business.
I would like to share my passion, my interests, knowledge & experiences in Forex,
Options, Gold Investments, Futures, Stocks, Binary Options, Economics, Life-long
Trading Education, Finances, Business, Stamp Collection, Sports, Gardening, Reading,
Photography, Politics
http://www.facebook.com/pierrea.pienaar
https://twitter.com/pienaar_a
http://www.goodreads.com/user/show/2580802-pierre-a-pienaar
http://resourcesindependenttrader.blogspot.com
http://www.viadeo.com/profile/0021ok1u4iwg7pwc
https://www.xing.com/profile/PierreA_Pienaar?sc_o=mxb_p
http://www.slideshare.net/PierreAPienaar
https://plus.google.com/103487646835776536221/about
http://weibo.com/3158954871/profile?topnav=1&wvr=5
http://www.linkedin.com/pub/pierre-a-pienaar/64/a4/666/
Xcelwealth Store - Business & Investing
Substantial risk of loss
There is a substantial risk of loss of stocks, forex, commodities, futures, options,
and foreign equities are substantial.
You should therefore carefully consider whether such trading is suitable for you
in light of your financial condition. You should read, understand, and consider
the Risk Disclosure Statement that is provided by your broker before you
consider trading.