GBP/USD - Manufacturing PMI, UK - 11/03/2014 (GMT)

Today at 10:30 (CET) we expect the release of the monthly UK Manufacturing PMI. The diffusional index is formed as a result of a monthly survey of 600 purchasing managers in the manufacturing sector, which give their opinion regarding employment, prices, suppliers and inventory facilities. If the index falls below 50 due to the reduced activity, that indicates the economic downturn, especially if the trend is maintained for several months. This is the leading indicator as purchasing managers get a quick access to the company’s statistics. This is exactly the reason players have a strong reaction to the PMI index release. Today we can expect a new volatility momentum of the British pound.

Read more details here: http://www.ifcmarkets.com/en/technical-analysis/gbp-usd/2014-11-03