Latest UK data released by Markit 1 December 2017
- Prior reading revised from 56.3 to 56.6
A huge beat on the PMI number. Highest reading since December 2013.
GBP/USD bouncing off the days lows back above 1.3500 now. Currently at 1.3506.
Markit reports that output, new orders, and employment all rose at faster rates. Meanwhile, investment goods new orders increased at its steepest pace since August 1994.
Full report here.
Update: Cable now back below the 1.3500 mark after a spike to 1.3513 on the release. Currently back down to 1.3495.
Sellers are still in control so far this session. The spike up here may not hold for too long at this rate.