Sterling had a mixed day yesterday following much better than expected manufacturing data with the Purchasers Managers Index (PMI) showing a figure of 49.5 when only 46.1 had been anticipated. Whilst this release is above market expectations, the figures still show that the manufacturing industry is contracting, albeit by less than it was last month. Construction PMI released today is expected to show a slight expansion of 50.1; but, the markets will hope for even better figures following yesterday's positive release. Call in now for the latest rates.
The euro performed fairly well yesterday despite the release of Europe wide manufacturing PMI data which was worse than expected. Spanish unemployment data will be the main release today; however, the markets will be paying closer attention to the ECB’s interest rate decision on Thursday; as a result, any rumours or increased speculation regarding central bank intervention could cause a lot of volatility. Call in now for the latest rates.
The US dollar traded relatively flat yesterday with the US markets shut due to the Labour Day bank holiday. Manufacturing PMI data released today will be the main release on the agenda and is expected to show very slight industry expansion. Get the latest news by calling in.
Elsewhere, the Swedish krona was one of the worst performing currencies yesterday as manufacturing PMI data was much worse than expected posting a contraction figure of 45.1 when slight industry expansion had been expected. The Australian dollar also struggles as retails sales figures were much worse than excepted dropping by 0.8% when 0.3% growth had been anticipated. Other data released included worse than expected retail sales figures from Switzerland. The worse than expected Chinese manufacturing PMI released on Saturday led investors to believe that the central bank may look to loosen monetary policy shortly to give the economy a boost. First thing this morning the Reserve Bank of Australia’s announced its interest rate decision and GDP data from Switzerland was also announced. Call in now for the latest news and a live quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
The euro performed fairly well yesterday despite the release of Europe wide manufacturing PMI data which was worse than expected. Spanish unemployment data will be the main release today; however, the markets will be paying closer attention to the ECB’s interest rate decision on Thursday; as a result, any rumours or increased speculation regarding central bank intervention could cause a lot of volatility. Call in now for the latest rates.
The US dollar traded relatively flat yesterday with the US markets shut due to the Labour Day bank holiday. Manufacturing PMI data released today will be the main release on the agenda and is expected to show very slight industry expansion. Get the latest news by calling in.
Elsewhere, the Swedish krona was one of the worst performing currencies yesterday as manufacturing PMI data was much worse than expected posting a contraction figure of 45.1 when slight industry expansion had been expected. The Australian dollar also struggles as retails sales figures were much worse than excepted dropping by 0.8% when 0.3% growth had been anticipated. Other data released included worse than expected retail sales figures from Switzerland. The worse than expected Chinese manufacturing PMI released on Saturday led investors to believe that the central bank may look to loosen monetary policy shortly to give the economy a boost. First thing this morning the Reserve Bank of Australia’s announced its interest rate decision and GDP data from Switzerland was also announced. Call in now for the latest news and a live quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
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