GBPUSD Intra-Day Fundamentals - Purchasing Managers' Index and 56 pips price movement

2014-11-05 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Services PMI]

• past data is 58.7
• forecast data is 58.5
• actual data is 56.2 according to the latest press release

if actual > forecast (or actual data) = good for currency (for GBP in our case)

[GBP - Services PMI] = Level of a diffusion index based on surveyed purchasing managers in the services industry. It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

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GBPUSD M5: 56 pips price movement by GBP - Services PMI news event :

"UK service sector growth was sustained during October, but at the slowest rate in 17 months amid reports of some market uncertainty creeping into client decision-making. Although new work also continued to rise sharply, it did so at the slowest rate for five months. Business confidence weakened slightly as a result to a level below its historical average, while average charges were reduced fractionally for the first time in 17 months.

Nonetheless, companies recruited additional staff to the greatest degree in three months as capacity remained under some pressure, which was highlighted by a further increase in work outstanding.

The seasonally adjusted Business Activity Index posted 56.2 in October, down from 58.7 in September. Latest data marked the second successive monthly fall in the headline index, and October’s reading was the lowest recorded for 17 months, although the implied rate of growth remained above the average for over 18 years of data collection."