GBP/NZD erases gains after it rallies beyond 1.996 for the first time in 10 months, trading at 1.9718 .
Trading week in a glance - Late into the trading week GBP/NZD loses 153 pips(0.77%), currently trading at 1.9718. (Start trading GBP/NZD at FXTM today).
This downslide might be related to financial indicators data published earlier as data for United Kingdom Manufacturing PMI released yesterday at 8:30 AM is better than expected with 64.2, but worse than previous figure of 65.6.
On the flip side, positive data for GBP/NZD released earlier when United Kingdom Services PMI fall short of the 63 projections, with 61.7 and continued its downward trajectory from previous figure of 62.9. United Kingdom Composite PMI fall short of the 62.8 projections, with 61.7 and continued its downward trajectory from previous figure of 62.9. United Kingdom Retail Sales published Friday came out at -1.4%, falling short of the 1.6% projections and continuing its decline from the previous 9.2% figure.
Meanwhile, United Kingdom BoE MPC vote unchanged (Jun) matches projections with new data release of nine. The indicator value is unchanged and is the same as previous data of nine.
In the meantime negative performances are also seen in other symbols, Pound/Yen dropped to 151.29, hitting a 8 weeks low.
However positive performance can be seen looking at other symbols as after 2 months, USD/SGD hits a fresh high at 1.3476.
Outlook for rest of the week: Market will keep its eye on the following upcoming macroeconomics indicators: United Kingdom Manufacturing PMI is expected Thursday.