British factories recorded their fastest growth | 02 December 2020

02 December 2020, GBP/USD

British factories recorded their fastest growth

GBPUSD trading plan:

British factories recorded their fastest growth in almost three years last month as they stockpiled raw materials and rushed to complete work before new post-Brexit customs rules come into force on Jan. 1. The IHS Markit/CIPS Purchasing Managers' Index rose to 55.6 in November from 53.7 in October, its highest since December 2017 and above an earlier flash reading of 55.2, bucking a gloomier picture from other sectors hit harder by COVID. Factory output, which is only one component of the total PMI, also accelerated. This is a positive signal for the British currency!

Investment idea: Buy 1.3404 and take profit 1.3454.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus