UK Manufacturing PMI 11/02/09

4:30am (NY Time) UK Manufacturing PMI  Forecast 50.1   Previous 49.5
ACTION: GBP/USD        BUY 52.1         SELL 48.00

Our focus will be on the Manufacturing PMI number from UK today, it is expected to be just above 50, which is considered as the medium point.

We are looking for a difference or deviation of 2.0, and remember that this is a leading indicator and its impact may affect the upcoming trend of this currency for the weeks to come, or at least for this month. If our BUY/SELL numbers are hit, we can expect GBP/USD to move 50 pips within the hour. 

As usual, I’ll be trading this release live and then post back the results as soon as I can.  With BOE’s rate decision coming up on Thursday, this release may change expectation of the GBP or hasten the decline.

DEFINITION:

“UK Manufacturing PMI is a survey of purchasing managers in the manufacturing sector on various economic activities, including inventory, employment, orders, etc… A higher than 50 reading means expansion, or a less than 50 reading means contraction.”

Related posts:

1. UK Manufacturing PMI m/m 12/01/09
2. UK Manufacturing PMI 01/04/10
3. UK Manufacturing PMI 04/01/10
4. UK Manufacturing PMI 02/01/10
5. UK Manufacturing PMI 03/01/2010
6. Strategy For UK Manufacturing PMI 06/01/10
7. Forex Trading Plan For UK Manufacturing PMI 07/01/10
8. UK Manufacturing PMI 10/01/09
9. Forex Trading Plan For UK Manufacturing PMI 10/01/10
10. Forex News Trading UK Manufacturing PMI 01/04/2011

Tagged as: Buy Sell, Contraction, currency, Decline, economic activities, Expectation, GBP, Leading Indicator, Manufacturing PMI, manufacturing sector, Medium Point, pips, PMI, Purchasing Manager's Index, purchasing managers, Sterling, Survey, UK