NEWS TRADING
Wednesday November 4, 2009
[5.30PM]
UK Services PMI BUY 57.4 SELL 53.4
GBP/USD
ACTUAL 56.9
We'll be trading the Services PMI figure today and we'll look for a
minimum surprise factor of 2.0 from the forecast release figure. If
we get at least 57.40 or better, we could see support in the GBP and
a possible LONG trade for GBP/USD and GBP/JPY could be justified.
If we get a 54.4 or worse release, GBP could weaken significantly
ahead of the BOE rate decision on Thursday, thus exaggerating the
effect of this release.
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