Pound Slides As UK Construction Activity Contracts To A Decade Low
02 Julio 2019 - 01:11AM
RTTF2
The pound fell against its key counterparts in the European
session on Tuesday, as a data showed that the UK construction
sector contracted the most in more than a decade in June.
Survey data from IHS Markit showed that the UK construction PMI
fell unexpectedly to 43.1 in June from 48.6 in May. The reading was
forecast to rise to 49.2.
The latest reading signaled the steepest reduction in overall
construction output since April 2009.
Data from Nationwide Building Society showed that UK house
prices increased at a slightly slower pace in June.
House prices rose 0.5 percent year-on-year in June, following a
0.6 percent increase in May. Nonetheless, this was faster than the
expected 0.2 percent rise.
The currency has been trading lower against its most major
counterparts in the Asian session amid no-deal Brexit worries, as
Boris Johnson remained as the favorite to become the U.K.'s next
Prime Minister.
The pound dropped to near a 2-week low of 1.2611 against the
greenback, after rising to 1.2648 at 6:30 pm ET. The next possible
support for the pound is seen around the 1.24 level.
The pound depreciated to a 4-day low of 136.48 against the yen
from yesterday's closing value of 137.05. The pound is seen finding
support around the 133.00 region.
Data from the Bank of Japan showed that Japan monetary base rose
4.0 percent on year in June - coming in at 512.991 trillion
yen.
That follows the 3.6 percent increase in May.
The pound reached as low as 0.8957 against the euro, down from a
weekly high of 0.8920 hit at 5:00 pm ET. On the downside, 0.92 is
possibly seen as the next support level for the pound.
Data from Destatis showed that Germany's retail sales grew at a
slower rate in May.
Retail sales climbed 4.0 percent year-on-year in May, after a
4.6 percent increase in April. Economists had forecast a 2.7
percent rise.
On the flip side, the pound held steady against the franc, after
having retreated to 1.2451 at 3:15 am ET. This follows near a
2-week high of 1.2494 set at 2:45 am ET. If the pound extends
decline, 1.23 is possibly seen as its next support level.
Euro vs Sterling (FX:EURGBP)
Gráfica de Divisa
De Feb 2024 a Mar 2024
Euro vs Sterling (FX:EURGBP)
Gráfica de Divisa
De Mar 2023 a Mar 2024