This afternoon, the Markit Mfg PMI came out weaker at 55.4 versus forecast of 57.2 and lower than previous month of 57.2.
What is comforting is that the manufacturing PMI has been posting above 50 levels since this year. However, I believe the market will still take the lower PMI negatively.
So I decided to do a quick trade by shorting the GBPUSD at 1.6865 and squared at 1.6835 for a trading profit of 30bps or 3%.
The Panthenon Investment Group 