UK Services PMI | Current Sentiment

Jarratt Davis

Special Consultant to the FPA
The main event for the upcoming session is UK Services PMI at 9.30am BST, where a deviation should see a fast move on pound.

Current Sentiment

During the Asian session, Australian Retail Sales came in at 0.4% versus 0.3% expected. Real Retail Sales, which excludes inflation, rose half a percent for Q1. Aussie has rallied 50 pips on the day, after falling 270 pips during the prior 2 trading days. The gains were helped by moves higher in WTI, which is up $1.50 from NY session lows.

Caxin Services PMI missed estimates at 51.8 versus 52.6 expected. USDJPY is relatively flat on the session.

It’s a bank holiday in Swizterland, Germany and France today, which suggests volumes during the London session should be lighter than usual.

UK Services PMI release was also covered in weekly risk events video here.

P.S. - If you want to learn more about how I trade, check out the link below

Jarratt Davis - Free Forex Course

Elwis Wright

Even after three years' low of Services PMI, the GBP refrained from declining much, I guess 1.4460-55 support-zone again proved its worth.