The Pound couldn’t keep its positive momentum. Overview for 24.08.2021

GBPUSD is falling after yesterday’s rebound. 

The British Pound couldn’t keep its positive momentum against the USD as the pair is moving downwards on Tuesday afternoon. The current quote for the instrument is 1.3697.

The preliminary report on the Services PMI in the United Kingdom showed 55.5 points in August after being 59.6 points the month before. The Flash Manufacturing PMI dropped from 60.4 to 60.1 points over the same period of time. 

Manufacturers are careful, the more especially as the United Kingdom is adding new places to the list of red zones – it may have a negative influence on both consumer activism and business communities. 

The CBI Industrial Order Expectations in the UK increased quite unexpectedly, from 17 points in July to 18 points in August against the expected decline to 16 points. It’s good news, which means that the upcoming autumn may be more confident and productive. 

There will be another report from the CBI this week, the Realized Sales for August, which may be quite interesting – market players need to understand how much consumers believe in the better tomorrow and what amount of money they are ready to spend. The better the statistics are, the higher hopes that official data on the retail sales might be.