Hello all!!! In just a couple of hours Markit Group Limited out of Great Britain will release the result of the Construction PMI. The previous announcement on February 2, 2011 showed a transition from industry contraction to expansion while the forecast called for no changes. This allowed the GBP to strenghten briefly. The cahrts below illustrates the effect of the previous Construction PMI announcement.
GBP/JPY 30 min. chart; 64-point rise within 2 hrs. of announcement
GBP/USD 30 min. chart; 61-point rise within 1 hr. of announcement
Tonight's announcement at 6:30 PM (UTC+9) expects the industry to remain in an expansion state. Any result below 50.0 may break the GBP's general upward trend for this evening.
Here are your current currency pair rates:
GBP/JPY: Lowest 132.79 Highest 133.38 Current 133.05-10
EUR/JPY: Lowest 112.51 Highest 113.00 Current 112.75-80
USD/JPY: Lowest 81.81 Highest 81.98 Current 81.93-96
GBP/USD: Lowest 1.6213 Highest 1.6278 Current 1.6239-42
EUR/USD: Lowest 1.3742 Highest 1.3789 Current 1.3761-64
USD/CHF: Lowest 0.9269 Highest 0.9307 Current 0.9280-83
AUD/USD: Lowest 1.0084 Highest 1.0153 Current 1.0107-10
AUD/JPY: Lowest 82.60 Highest 83.14 Current 82.81-86
NZD/JPY: Lowest 60.44 Highest 61.33 Current 60.71-76