FXStreet (Guatemala) – Analysts at Nomura noted the forthcoming key PMI data events for the UK and GBP/USD.
Key Quotes:
“PMI manufacturing (Tuesday): There was a surprisingly sharp spike in this PMI during October, which has not been matched by other surveys since, although the official manufacturing data appear set to deliver similar strong growth at a 3m-o-3m pace over that period. We expect some partial payback to 54.2 in the headline index, led by a dip in the output index to levels still well above those that have proved sustainable recently. With so much uncertainty about its volatility, it is hard to have confidence in this call.
PMI services (Thursday): Activity growth in this sector rebounded in October but it was not supported by the forward-looking indicators. As such, we expect some partial payback, with the index falling 0.6 points to 54.3 in November.”
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