Latest data released by Markit/CIPS - 4 July 2018





Prior 54.0

Composite PMI 55.2 vs 54.5 expected

Prior 54.5

Those are solid readings, and sterling is jumping on the back of the positive data beat here.





The services print hits a 8-month high and looking at the details, we're seeing new business component rise to a 13-month high while the all-sector PMI reading is the highest since October 2017. Markit points out that the data here means Q2 GDP is expected to be at +0.4% q/q relative to the +0.2% q/q reading we saw in Q1.





Cable moves back to the 1.3200 handle after falling to a low of 1.3171 prior to report release.



