Services: 48.7 vs. Exp. 51.0 (Prev. 51.5)
Manufacturing: 42.5 vs. Exp. 45.0 (Prev. 45.3)
Composite: 47.9 vs. Exp. 50.3 (Prev. 50.8)
PMI data for the UK economy undermined recent market predictions of a BoE forward rate of 6%. The rate prediction has now fallen to 5.9%. Source: S&P Global
The GBPUSD pair loses more than 0.6% in the wake of the publication and breaks through the support set by the 100-day exponential moving average (purple curve). Source: xStation 5
Daily Summary - Powerful NFP report could delay Fed rate cuts
Daily summary: Weak US data drags markets down, precious metals under pressure again!
BREAKING: US RETAIL SALES BELOW EXPECTATIONS
Takaichi’s party wins elections in Japan – a return of debt concerns? 💰✂️