UK construction PMI Overview
FXStreet — The UK construction PMI for April will be released at 10:30 a.m., and according to the forecast of a decline from 52.2 previously, to 52.0.
Impact on the GBP/USD
Below you can see the possible impact on the FXStreet Tool to the standard deviation. The reaction will probably be limited to 10-45 Pips in a deviation of 2 to — 2, while a movement of up to 70 Pips in the tip, if the full deviation.
What might that look like in Detail for the GBP/USD?
A positive Surprise was the level of construction activity is needed to provide the COP, the support and the Pair may increase in the direction of 1.30. The decline in the PMI is greater than expected, the GBP/USD under 1,2886/84 (10-day MA / Deep 28. April) and the door to the 1,2832 (klass. S2 / S3 Fib) is then open.
After yesterday’s solid result of the PMI production of a good reading of the construction PMI would be no real Surprise, explain to the Societe Generale analysts.
The UK construction PMI
The PMI construction released by the Chartered Institute of Purchasing & Supply and Markit Economics is an indicator of the terms and conditions of the construction sector in the UK. It is worth noting that the construction sector will affect the GDP in a very positive or negative, as the manufacturing sector. A result above 50 is bullish for the GBP bullish and under 50.
• GBP/USD remains short term bullish
** FXStreet News Editorial, FXStreet**