S&P Global/CIPS Composite PMI comes in at 52.1

The S&P Global/CIPS Composite PMI for the UK was released today, coming in at 52.1. This figure represents an increase from the previous reading of 49.3. No consensus estimate was available for this release.

The British Pound showed a limited reaction across major pairs in the 15 minutes following the data. EURGBP was up 2.1 pips, while GBPAUD was down 2.5 pips. GBPCAD moved down 5.6 pips, GBPCHF down 3.2 pips, GBPJPY down 3.3 pips, GBPNZD down 6.5 pips, and GBPUSD was down 4.8 pips. These measured moves are small when compared to typical median 1-hour moves observed after past releases. For instance, EURGBP typically sees a median 1-hour move of 7 pips, GBPAUD 20 pips, and GBPUSD 12 pips.