UK Markit/CIPS Nov services PMI data now out 5 Dec
- 55.6 prev
- composite 54.9 vs 55.8 exp v 5.8 prev
Ouch. Soggy data for this key sector in the UK economy sees the Brexit news-led rally capped at the 1.3420-25 area I bolded in the orders board. Forewarned is forearmed, again.
Says Markit;
- Business activity growth slows from October's six-month high
- Sharp and accelerated rise in prices charged by service providers
- Job creation remains subdued in November
- reading above the 50.0 no-change value for the sixteenth consecutive month.
- The latest reading signalled a solid increase in service sector business activity, but the rate of expansion was slightly slower than seen on average in 2017 to date.
Full report here
GBPUSD currently 1.3408, EURGBP 0.8840 GBPJPY 150.85 as range-trading continues.
