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UK Preliminary Services PMI rises to 51.3 in June vs. 51.3 expected

  • UK Services PMI climbed to 51.3 in June, meeting expectations.
  • Manufacturing PMI in the UK improved to 47.7 in June.
  • GBP/USD holds minor losses below 1.3450 after UK business PMIs.

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) improved to 47.7 in June from 46.4 in May. The data better the market forecast of 46.6 in the reported period.

Meanwhile, the Preliminary UK Services Business Activity Index advanced to 51.3 in June versus May’s 50.9 while meeting the expected 51.3 figure.

FX implications

United Kingdom S&P Global Manufacturing PMI above forecasts (46.6) in June: Actual (47.7)

United Kingdom S&P Global Manufacturing PMI above forecasts (46.6) in June: Actual (47.7)
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USD/CAD holds gains near one-month highs above 0.3740 on cautious markets, soft Canadian data

The US Dollar is practically flat against its Canadian counterpart on Monday, consolidating gains after an impulsive recovery from year-to-date lows at 1.3538 last week.The Greenback appreciated more than 1% in the previous three trading days, with investors rushing for safe assets as risk aversion
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