London RationalFX

RationalFX : UK construction data lifts sterling

RationalFX : The pound rebounded off six week-lows against the dollar on Tuesday, after better than expected construction activity data offset fears of a hard Brexit, …….

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fuelled by the government’s tough stance in European Union trade talks. The move reversed losses in early trading which was due to the concern that Britain may fail to clinch a trade deal by the end of an 11-month transition period.

Output in the UK’s construction sector in January fell at its slowest pace since May last year. This was taken as a good sign of green shoots for Britain’s builders amid lower political uncertainty. T

he IHS Markit/Cips gauge of construction output rose to 48.4 in December. The reading was still below the 50 no-change mark, but was nonetheless the best score for eight months.

Key Announcements

12:15 – EUR – ECB President Lagarde Speaks.

13:15 – USD – ADP Non-Farm Employment Change forecast to fall to 150K.

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