MNI BRIEF: China House Price Declines Narrow In January

MNI BRIEF: BOJ Takata Backs Gradual, Vigilant Hikes

MNI: PBOC Net Drains CNY19.1 Bln via OMO Wednesday

MNI China Press Digest Feb 19: PBOC, SAFE, Revenue

MNI: PBOC Sets Yuan Parity Higher At 7.1705 Weds; -1.10% Y/Y

MNI BRIEF: Fed’s Barr Sees More Disinflation After Jan. ‘Bump’

RBNZ SAYS IT HAS SCOPE TO LOWER FURTHER IN 2025

MNI: RBNZ CUTS OCR 50BP TO 3.75%

MNI: UK NOV-JAN MEDIAN PAY AWARDS +3% :Brightmine

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GBP: GBP Reaction Shows Growing Sensitivity to Near-Term Growth

GBP
CEEMEABulletUKMarketsForeign Exchange Bullets

The response to that soft construction PMI print is extending here, with GBP/USD narrowing the gap with both 1.24 handle support and 1.2380, the Tuesday low. GBP/JPY and GBP/CAD possibly more eyecatching as they break to new weekly lows - opening support in GBP/JPY at 189.34, the mid-January low and S/T bear trigger.

  • Interestingly, Construction PMI is not usually a market mover, even if it diverges from expectations - but this price action underpins how sensitive prices are becoming to growth and the near-term trajectory of the UK economy after last Autumn's budget (and ahead of the Spring fiscal statement...)
99 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The response to that soft construction PMI print is extending here, with GBP/USD narrowing the gap with both 1.24 handle support and 1.2380, the Tuesday low. GBP/JPY and GBP/CAD possibly more eyecatching as they break to new weekly lows - opening support in GBP/JPY at 189.34, the mid-January low and S/T bear trigger.

  • Interestingly, Construction PMI is not usually a market mover, even if it diverges from expectations - but this price action underpins how sensitive prices are becoming to growth and the near-term trajectory of the UK economy after last Autumn's budget (and ahead of the Spring fiscal statement...)