Sterling takes a minor step back despite positive manufacturing data – Construction due this morning plus an important day for the Euro

GBP EUR Looks to Employment Figures for Support

The Pound took a minor setback in yesterday’s trading even though we saw the best manufacturing figures (PMI) since 1994.

This morning we see the release of construction data at 09:30am which may either push us back up or could potentially continue this minor turn around.

The most important data of note is GDP (Gross Domestic Product) data for the Euro Zone at 10:00am and the ECB interest rate decision due at 12:45pm.

It is unlikely there will be a change in interest rates however following this data the European Central Bank will hold a conference and potentially make announcements regarding their well documented potential crisis and how they plan to tackle it, those with Euro requirements be it buying or selling should expect high volatility during this.

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