U.K manufacturing PMI release

Tuesday, 3 May 2011 11:35

U.K manufacturing Purchasing Managers' Index data was just released with unexpected results of a low 54.6 from an anticipated  57.0.  Also lower than the previous release of 57.1.

When actual figures released are higher than the forecasted value, this is good for the currency.

This affects traders as "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" as quoted by the Forex Calendar information.