Unlike the euro, the pound did not just resist but even somewhat strengthened its position, which was made possible by the growth in the business activity index in the manufacturing sector from 55.0 to 55.1. Optimism was also associated with the fact that the expected decline in the index to 54.7. In turn, instead of cutting from 17.1 million to 16.9 million, the U.S. statistics also turned out better than forecasts, and sales of vehicles, as it increased to 17.5 million. However, these data came out too late and did not have a significant impact on the market.
Today, the pound will have a hard time, as the index of business activity in the construction sector may decline from 51.4 to 50.8. The real estate market, as well as the state of the construction segment, are extremely important for the pound, as they are one of the main criteria for the investment attractiveness of the UK. In the US, ADP data on employment, which should show its growth of 205,000 versus 235,000 in the previous month. Despite the slowdown in employment growth, they are still quite high, so this news can be regarded as positive. Also, production orders can increase by 1.7%. At the same time, the index of business activity in the service sector should decrease from 55.9 to 54.3, and the composite index from 55.8 to 54.1, which will neutralize the positive data.
The pound/dollar pair may fall to 1.4025.
