Sterling made new gains today, building on the recovery over the previous week. Against the dollar, sterling starts the week much stronger than it did last week. This follows the pound’s recent boost in the wake of better-than-expected GDP data.
S&P Global/CIPS Manufacturing PMI data will be released at 9:30am this morning. Markets are expecting a rise to 48.5 following September’s preliminary reading which rose to the same number. The latest reading points to a second consecutive month of contraction in the manufacturing sector.
The UK’s next major data release will be S&P Global/CIPS Manufacturing PMI for September final on Wednesday.
