Negative macroeconomic statistics from the UK | 02 June 2022

GBPUSD trading plan:

British manufacturing activity expanded in May at the weakest rate since January 2021. The final estimate of the S&P Global UK Manufacturing Purchasing Managers' Index fell to 54.6 in May from 55.8 in April, unchanged from a preliminary reading. Costs paid by manufacturers and selling prices again rose rapidly last month, but at a slightly slower pace than suggested by the flash reading, the PMI showed. The Institute of Directors said confidence in the economy among business leaders slid last month to its lowest since October 2020. Inflation - which hit a 40-year high of 9% in April - was their top concern.

Investment idea: sell 1.2527 and take profit 1.2450.