Fri, July 22, 2016
The Pound was set for a weekly gain before the release of data that economists say will show the U.K. services sector contracted in July for the first time since records began in 2013.
Sterling rose against the majority of its 16 major peers this morning before the data release, which will be among the first to provide a glimpse into the effect of the UK’s choice to leave the EU. Markit Economics’ services PMI is expected to have dropped to 48.8 from 52.3 in June. The 50 level divides expansion from contraction of the industry.
Markit’s manufacturing index is predicted to decline to 48.7 from 52.1 in June. The PMI surveys track output among U.K. services and manufacturing industries, as measured by purchasing managers.
The pound was little changed at 1.3248 against the Dollar as of 8:35 a.m., on course for a weekly gain of 0.4%. Sterling was at 1.2015 against the Euro, from 1.20 Thursday. It has strengthened 0.5% against the Euro this week.
Data to look out for today.
09:30: GBP UK PMI Manufacturing
09:30: GBP UK Services PMI
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KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex http://www.essexchronicle.co.uk/100-Essex-businesses-revealed-annual-survey/story-25140555-detail/story.html
| Day | Time | Currency | Event |
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| FRI | 07:00 | EUR | EUR Markit France Composite PMI | FRI | 07:00 | EUR | EUR Markit France Manufacturing PMI | FRI | 07:00 | EUR | EUR Markit France Services PMI | FRI | 07:30 | EUR | EUR Markit/BME Germany Manufacturing PMI | FRI | 07:30 | EUR | EUR Markit Germany Services PMI | FRI | 07:30 | EUR | EUR Markit/BME Germany Composite PMI | FRI | 08:00 | EUR | EUR Markit Eurozone Manufacturing PMI | FRI | 08:00 | EUR | EUR Markit Eurozone Services PMI | FRI | 08:00 | EUR | EUR Markit Eurozone Composite PMI | FRI | 08:00 | EUR | EUR ECB Survey of Professional Forecasters | FRI | 08:30 | GBP | GBP Markit UK PMI Manufacturing SA | FRI | 08:30 | GBP | GBP Markit/CIPS UK Services PMI | FRI | 08:30 | GBP | GBP Markit/CIPS UK Composite PMI | FRI | 09:00 | EUR | EUR Euro Area First Quarter Government Debt | FRI | 09:00 | EUR | EUR Euro Area First Quarter Government Deficit | FRI | 13:45 | USD | USD Markit US Manufacturing PMI | FRI | 17:00 | USD | USD Baker Hughes U.S. Rig Count |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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