UK Services PMI 03/03/2010

Posted by Henry Liu on March 2, 2010 under Forex News Trade, Great Britain, UK Services PMI | Be the First to Comment

4:30am (NY Time) UK Services PMI     Forecast 55.0     Previous 54.5
ACTION: GBP/USD                        BUY 57.0         SELL 53.0

We’ll be trading the Services PMI figure today out of UK and our minimum deviation is 2.0 from the forecast release figure.  If we get at least 57.0 or better, we could see some demand in the GBP and we will consider BUYING GBP/USD or GBP/JPY pairs.  If we get a 53.0 or worse release, GBP could weaken and we should look to SELL GBP/USD or GBP/JPY pairs.

UK Services PMI 02/03/10

Posted by Henry Liu on February 2, 2010 under Forex News Trade, Great Britain, UK Services PMI | Be the First to Comment

4:30am (NY Time) UK Services PMI     Forecast 56.6     Previous 56.8
ACTION: GBP/USD                        BUY 58.6         SELL 54.6

We will be focusing on the Services PMI figure today and our minimum deviation is 2.0 from the forecast release figure.  If we get at least 58.6 or better, we could see some demand in the GBP and we will consider BUYING GBP/USD or GBP/JPY pairs.  If we get a 54.7 or worse release, GBP could weaken and we should look to SELL GBP/USD or GBP/JPY pairs.

UK Services PMI 01/06/10

Posted by Henry Liu on January 5, 2010 under Forex News Trade, Great Britain, UK Services PMI | Be the First to Comment

4:30am (NY Time) UK Services PMI     Forecast 56.7     Previous 56.6
ACTION: GBP/USD                        BUY 58.7         SELL 54.7

We will be trading the Services PMI figure today and our minimum deviation is 2.0 from the forecast release figure.  If we get at least 58.7 or better, we could see further demand in the GBP and we should BUY GBP/USD or GBP/JPY pairs.  If we get a 54.7 or worse release, GBP could weaken and we should look to SELL GBP/USD or GBP/JPY pairs.

Because PMI’s are leading indicators and are likely to set the tone for January 2010 for GBP, especially the  Services PMI’s as from UK since UK’s economy is 72% services based; therefore traders look at this release for early direction in UK’s economy.

UK Services PMI 12/03/09

Posted by Henry Liu on December 2, 2009 under Forex News Trade, Great Britain, UK Services PMI | Be the First to Comment

4:30am (NY Time)   UK Service PMI      Forecast 57.1     Previous 56.9
ACTION: GBP/USD                 SELL 55.00     BUY 59.00

Our focus will be on the Services PMI figure today and we’ll look for a minimum deviation of 2.0 from the forecast release figure.  If we get at least 59.0 or better, we could see further demand in the GBP that should justify for LONG trades on GBP/USD or GBP/JPY pairs.  If we get a 55.0 or worse release, GBP could weaken or at least show a quick profit taking reaction from the overnight bullish move.

UK Services PMI 11/04/09

Posted by Henry Liu on November 3, 2009 under Forex News Trade, Great Britain, UK Services PMI | Be the First to Comment

4:30am (NY Time)   UK Service PMI      Forecast 55.4     Previous 55.3
ACTION: GBP/USD                 SELL 53.40     BUY 57.40

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.

UK Services PMI 10/05/09

Posted by Henry Liu on October 4, 2009 under Forex News Trade, Great Britain, UK Services PMI | Be the First to Comment

Get the latest Flash Player to see this player.

4:30am (NY Time) UK Service PMI      Forecast 54.6     Previous 54.1
ACTION: GBP/USD                 BUY 56.50     SELL 51.0

Our focus will be on the Services PMI today and we’ll look for a minimum deviation of 2.0 from the expected release figure.  If we get at least 56.50 or better, we could see further support in the GBP and a possible LONG trade for GBP/USD and GBP/JPY could be justified.  If we get a 51.0 or worse, then we could see GBP retest the lows against both USD and GBP.

UK Services PMI 09/03/09

Posted by Henry Liu on September 2, 2009 under Forex News Trade, Great Britain, UK Services PMI | Be the First to Comment

4:30am (NY Time) UK Services PMI      Forecast 53.9     Previous 53.2
ACTION: GBP/USD                 BUY 56.00     SELL 51.5

We will watch this report closely as the UK Manufacturing PMI turned out to be a huge disappointment.  If the Services Sector PMI is also missing consensus expectation, we could see another wave of Sterling sell-off and recent supports will be taken out with ease.

If the number comes out worse we’ll SELL GBP/USD; if the number comes out better, then we’ll wait to see market reaction and plan for a SELL GBP/USD from the top, if there is no momentum or follow-through with the market reaction.  At any rate, I’ll be trading this release live and post the results back here…

UK Services PMI m/m 08/05/09

Posted by Henry Liu on August 4, 2009 under Forex News Trade, General, Great Britain, UK Services PMI | Be the First to Comment

4:30am (NY Time) UK Services PMI      Forecast 51.9     Previous 51.6
ACTION: GBP/USD                 BUY 54.00     SELL 49.5

We will watch this report closely as Sterling is at verge of breakout.  Therefore it is for the best start trading this release, this week.

If the number comes out worse than the expected 51.9, we’ll SELL GBP/USD; if the number comes out better, then we’ll BUY GBP/USD.  However I’m leaning more to go long on Sterling than short.

Definition:

UK Services PMI Sentiment Trade – 06/03/09

Posted by Henry Liu on June 3, 2009 under Forex Market Sentiment Trading, Great Britain, UK Services PMI | Be the First to Comment

Get the latest Flash Player to see this player.