Marginally better than Reuters’ median forecasts of +0.4%, +0.4% respectively.
Cable lower in wake of data, presently at 1.5950 from around 1.5990 just prior to releases.
At the end of the day, the PMI data is more timely. And also the rebound in growth is to an extent a reflection of base effects and once these are through it’s thought growth will fall back (well that’s what a friendly bank told me)
Talk of some buy orders clustered 1.5930/40.
UPDATE: Joe “The Informer” Brown tells me the buyers mentioned above were notable sellers around 1.6150 last Friday.
Clever buggers ain’t they
Nice profit.
