The pound strengthened on Thursday, even after preliminary UK PMI indices for April fell well below even the most pessimistic forecasts, as market activity does not seem to depend on new data on the catastrophic economic consequences of the spread of coronavirus.
The PMI fell to a new all-time low of 12.9 from 36.0 in March. The magnitude of the collapse almost guarantees a huge recession in the fifth largest economy in the world and will add doubts that financial assistance from the government will quickly get to business.
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The survey doesn't really tell us anything more than what we already know from what we see from our windows today.
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Trade with the Fibo Group!
#fibogroup #forex #forexnews #economy #finance #trader #UK #PMI
The PMI fell to a new all-time low of 12.9 from 36.0 in March. The magnitude of the collapse almost guarantees a huge recession in the fifth largest economy in the world and will add doubts that financial assistance from the government will quickly get to business.
=======
The survey doesn't really tell us anything more than what we already know from what we see from our windows today.
=======
Trade with the Fibo Group!
#fibogroup #forex #forexnews #economy #finance #trader #UK #PMI
