While nothing to write home about, it was a marginally positive day for the single currency against most major rivals.
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The pound entered the new month marginally weaker (0.4%) than the start of October, but largely unchanged for the past fortnight.
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Yesterday there was little reaction in the markets to the unsurprising news that the Bank of Engand (BoE) was holding interest rates at 5.25%. It followed the European Central Bank (ECB) and US Federal Reserve also pausing interest…
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The ISM US manufacturing PMI slipped to 46.7 in October from 49 in September and below forecasts of 49. Readings below 50 indicate a contraction from the previous month, and this reading points to the eleventh consecutive contraction…
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Since soaring to a five-month high on Tuesday, the euro lost 0.8% against the pound as recent economic data showed that the economy, Germany in particular, has continued to sour.
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The S&P Global UK manufacturing PMI rose slightly to 44.8 in October from 44.3 in September but remains below the consensus of 45.2. This signaled the eighth consecutive month of decline, marking the longest period of unbroken contraction…
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The Federal Reserve held interest rates at a 22-year high of 5.25-5.5% for the second consecutive month yesterday.
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Stocks in the US ended higher as Tuesday’s session came to an end. Investors continue to weigh fresh economic results and await the Fed’s decision tomorrow. The Dow Jones, the Nasdaq and the S&P 500 added 123 points,…
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