Pound Advances After Strong U.K. PMI Data
04 Januar 2024 - 9:12AM
RTTF2
The pound appreciated against its major counterparts during the
European session on Thursday, as U.K. composite PMI exceeded
estimates in December.
Final data from S&P Global showed that U.K. composite PMI
registered 52.1 in December, up from 50.7 in November. The flash
reading was 51.7.
The services PMI advanced to 53.4 from 50.9 in the previous
month. The reading was above the flash score of 52.7.
Investors now await U.S. reports on private sector employment
and weekly jobless claims later in the day and Friday's closely
watched monthly jobs report for additional clues on policy
outlook.
The Fed minutes offered little clues about when the central bank
will start trimming interest rates this year.
The pound climbed to a 2-day high of 1.2729 against the
greenback and an 8-day high of 1.0814 against the franc, off its
early lows of 1.2656 and 1.0735, respectively. The pound may find
resistance around 1.30 against the greenback and 1.12 against the
franc.
The pound advanced to a fresh 2-week high of 183.32 against the
yen and more than a 2-week high of 0.8610 against the euro, from
its early lows of 181.00 and 0.8630, respectively. The pound is
poised to find resistance around 186.00 against the yen and 0.84
against the euro.
Looking ahead, U.S. weekly jobless claims for the week ended
December 30 and ADP private payrolls data for December will be
released shortly.
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