GBP:
The UK manufacturing sector started the third quarter on a firm footing.
Production and new orders both continued to rise at robust, above long-run
average rates in July, encouraging further job creation. However, the pace of
expansion at manufacturers cooled from the stellar growth spurt seen during the
first half of the year. At 55.4 in July, down from 57.2 in June, the headline
seasonally adjusted Purchasing Manager’s Index posted its lowest reading in one

GBP:
The UK manufacturing sector started the third quarter on a firm footing.
Production and new orders both continued to rise at robust, above long-run
average rates in July, encouraging further job creation. However, the pace of
expansion at manufacturers cooled from the stellar growth spurt seen during the
first half of the year. At 55.4 in July, down from 57.2 in June, the headline
seasonally adjusted Purchasing Manager’s Index posted its lowest reading in one
year, but nonetheless remained well above the survey average of 51.5. The PMI
has now signalled an improvement in operating conditions throughout the past 17
months.
 
USD:
Employers in the U.S. added more than 200,000 jobs for a sixth straight month
in July, the longest such period since 1997 and a sign of growing optimism
about the economic outlook. The 209,000 advance followed a 298,000 gain in June
that was stronger than previously reported. The median of economists called for
a 230,000 increase.
 
The jobless rate climbed to 6.2 percent from 6.1 percent in June as more people
entered the labour force. Wages and hours were unchanged from June.
 
Manufacturing expanded in July at the fastest pace in more than three years,
showing factories will help power the economy after a second-quarter rebound,
other data showed today. The Institute for Supply Management’s index increased
to 57.1, the highest since April 2011, from 55.3 a month earlier. Readings
above 50 indicate growth.
 
Federal Open Market Committee officials this week continued to pare monthly asset
purchases as the job market strengthens and the threat of disinflation
diminishes. Nonetheless, they said in a statement that “a range of
labour-market indicators” have shown “significant underutilization of labor
resources.”
 
Key Announcements:
09:30  BST – GBP- Construction PMI expected to increased to 62.6

 Our dealers are available via e-mail
([email protected]) or by phone (0207 220 8181).