January 2016 UK Markit CIPS services PMI 55.6 vs 55.3 exp

Details from the January 2016 UK Markit CIPS services PMI data report 3 February 2016

• Prior 55.5
• New orders 56.8 vs 56.4 prior
• Expectations 67.5 vs 67.8 prior
• Composite 56.1 vs 55.0 exp. Prior 55.3
• New orders 56.1 vs 55.7 prior

Beating expectations but only up a pip from last month. The wires are making headlines about the expectations number falling to a 3 year low but the pound isn't listening as it finally breaks above the short term resistance at 1.4440

I don't see much here to suggest that anyone is going to change expectations for a BOE hike but pound traders will take some comfort that the index hasn't fallen further. I'd be wary of chasing this move higher though.

UK services PMI