- U.K. Manufacturing PMI @ 54.1 Vs 52 Expecated: 4:28 AM
- Initial Reaction: GBPUSD Market Spiked up by about 20 pips.
- Flirted with Pre-Release Price and then went up about 40 pips.
- Best Trade Option Sell on 60 MA: Profit Potentail: 120 Pips and Counting. - USA ISM Manufaturing @ 55.9 vs 53.6 Expected
-GBPJPY Spike of 15 Pips. Flirted with Pre-Release price and moved up 20 Pips.
- The Move up was slow but steady and lasted for about 10 Mints
- Best Trade Option Sell 6 min High: Profit Potentail: 140 Pips and Counting.
U.K. Manufaturing PMI full Story:
The UK's manufacturing sector expanded at its fastest pace for over two years in December, as new data Monday suggested that the British recovery gathered pace at the end of 2009.
The purchasing managers index for the manufacturing sector rose to 54.1 in December from an unrevised 51.8 in November, Markit Economics and the Chartered Institute of Purchasing and Supply said.
That outcome was much better than expected, with economists surveyed by Dow Jones Newswires last week having estimated the PMI would rise to 51.5.
A reading above 50.0 indicates the sector is expanding, while a reading below 50.0 indicates it is contracting.
Having Said that, the report persay is not a "Game Changer" for the GBP, hence it was okay to trade against the report.
USA ISM Manufacturing full story
U.S. manufacturing expanded during December, according to a report suggesting strength in the factory sector's recovery. A separate report Monday said U.S. construction spending in November fell.
The Institute for Supply Management's index of the nation's manufacturing activity rose to a better-than-expected 55.9, from 53.6 in November.
Readings above 50 indicate expanding activity. The data showed the manufacturing sector grew for a fifth consecutive month.
Just like the U.K. manufacturing Data , the USA manufacturing data is not a game changer, and it would have been okay to trade against the same.
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