With no major releases from the US, attention was understandably drawn to the Conservative Party Conference and the Italian budget row. Still, despite the quiet day for economic data, the dollar managed to hit its highest mark for six weeks against the single currency and it made some gains against sterling too.
One talking point from yesterday was that Amazon has decided to increase its minimum wage for workers in the UK and US. From November, the company – owned by the richest man in the world – will pay workers in America $15 per hour and UK workers £9.50 per hour. It will be interesting to see if other companies feel pressured to follow suit.
Today’s highlights include the employment change figures for September, as well as non-manufacturing PMI figures for the same month. We will also see the final readings of the Markit composite and services PMI which are expected to show continuing growth.
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