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GBP trading well despite deeply contractionary mfg PMI - Scotiabank
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GBP trading well despite deeply contractionary mfg PMI - Scotiabank
New
2025.05.22 20:36
2025.05.22 20:36
2025.05.22 20:36
Pound Sterling (GBP) is down 0.2% against the US Dollar (USD) and a mid-performer among the G10, trading relatively well despite a generally disappointing preliminary PMI release, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Trend in GBP/USD remains bullish
"The manufacturing print disappointed with a relatively deep contractionary print of 45.1 while services climbed just above the expansion threshold, printing 50.2."
"The trend in GBP/USD remains bullish, with consolidation just below Wednesday's multi-year high. The RSI is just below 60, leaving ample room for further near-term gains. Near-term support is expected below 1.33."
Last updated
: 2025.05.22
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PBOC sets USD/CNY reference rate at 7.1803 vs. 7.1815 previous
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2025.06.12 06:55Disclaimer:
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