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Markets

UK Markit/CIPS services PMI May 53.5 vs 52.5 exp

UK Markit/CIPS May services PMI report 3 June 2016

  • 52.3 prev
  • composite 53.0 vs 52.3 exp vs 51.9 prev

Better than expected data but GBP no higher, suggesting that the buying had already been done into the release.

Also out UK official reserves

  • $-1.168bln vs +728m prev

Full report from the BOE here

GBPUSD 1.4427 from 1.4432 EURGBP 0.773O vs 0.7727

Markit now out with a less than enthusiastic summary which helps explain the muted response.

  • weakest measure of new business since late 2012
  • May surveys suggest GDP slowing to +0.2% in Q2
  • expectations in services sector improve but hinge on EU referendum

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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