The pound remained almost unchanged against the dollar on Tuesday after data showing that the U.K. construction sector posted another month of solid growth in October. GBP/USD was last at 1.5411 from around 1.5418 ahead of the data. The Markit U.K. construction purchasing man- agers’ index ticked down to 58.8 last month from 59.9 in September, matching economists’ forecasts. Business activity continued to rise in all three construction sub-categories, survey compiler Markit said. The report came one day after a similar survey of the U.K. manufacturing sector showed that activity expanded at the fastest rate in 16 months in October, bolstering the outlook for fourth quarter growth. The Federal Reserve left rates on hold last week but indicated that it could still raise interest rates for the first time since 2006 at its December meeting. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.17% to 97.17.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5420 TARGET 1.5440 1.5470 SL 1.5390
SELL GBP/USD BELOW 1.5360 TARGET 1.5340 1.5310 SL 1.5390
No comments:
Post a Comment