US Initial jobless claims will be announced on Thursday at 15:30 MT time.
British manufacturing PMI dips to 55.9 in September
In September, the British manufacturing sector kept expanding at a solid clip, although at a slower tempo, as industry data disclosed on Monday.
According to market research group Markit, its British manufacturing PMI edged down to a seasonally adjusted 55.9 the previous month versus August’s outcome of 56.9. Financial experts had hoped the index would slump to 56.4 in September.
On the index, an outcome above 50.0 stands for industry expansion, while the reading below points to contraction.
Output as well as fresh orders both rallied at above long-run average rates. Evidently, the latest poll indicated that cost inflationary pressures jumped. It reflected a combination of soaring commodity prices, the exchange rate, not to mention increased supply-chain pressures.
The currency pair GBP/USD reached 1.3311 versus 1.3318 ahead of the publication of the data. Meanwhile, EUR/GBP traded 0.8820 versus 0.8825 earlier.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
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