On Wednesday the GBP has back down in the Europe market against the currencies, to continue the decreasing for the third day respectively against the USD, under the pressure of increasing the fears about continuing the backing down of the British economic recovery during the second quarter of this year, especially after growth slowing in the manufacturing sector and building in the United States in June, in this frame the investors are waiting today for British services sector during the same month.
At 8:08 GMT GBPUSD is trading at the level 1.2906 from the opening price 1.2919 after recording the highest price 1.2947 and the lowest price 1.2901.
GBP has ended yesterday trading with a decreasing by 0.2% against the USD, in a second daily loss respectively, after the data observed backing down in a growth of the British building sector during June.
The last Monday Data observed a backing down in growth of British manufacturing sector during June for the second month respectively, and this data Leeds for a continuing backing down in the British economic recovery during the second quarter of this year, and this force the monetary policy makers of the British Central Bank to delay increasing the interest prices till the late of this year.
GBP has achieved last week and increasing by 2.4% against the USD, and that’s the biggest weekly gain since the half of April, and during June the GBP achieved an increasing by 1.1%, with a supporting form the British central governor Mark Carney remarks, which is the interest rates may need to be increased soon, to face the increasing inflation pressures.
GBP continue its backing down for the third day respectively against the USD, and under the pressure of the fears about the continuing slowing in the royalist economic growth during the second quarter of this year, and the investors are waiting today for the British services sector growth data and this’s the most important main sector for the royalist economic.
At 8:30 GMT the services sector of buying managers index will issue and the expectation is at the level 53.6 during June and the index record at the level 53.8 in May.