Sterling was relatively quiet on Friday, ending a relatively busy week. The Second Estimate Gross Domestic Product (GDP) figure was the main interest of the day; this came in as forecast at 0.7%.
With no data released yesterday due to the UK bank holiday, this morning’s focus will be on UK Manufacturing Purchasing Managers’ Index (PMI) data. The manufacturing sector has showed expansion month-on-month so far in 2015; the forecast figure of 51.9 indicates no buck in the trend, but a shock outcome could result in some early activity for sterling. On Wednesday, we have the Construction PMI data released which is expected to remain at a similar level to August. On Thursday we have the Services PMI data which is expected to show solid growth at 57.6