Dominant Currency Sentiment - GBP Leads FX Majors
Strength in GBP is largely the result of media reports that incoming UK Prime Minister Liz Truss could announce a freeze on energy bills which could otherwise increase by 80% for UK households in October.
The European session also saw the release of UK Construction PMI. Despite indicating contraction for the industry at 49.2, the print still beat expectations of 48.0 and the prior release of 48.9.
Looking ahead, today’s US session will see PMI data once again come into focus with the release of US ISM Services PMI and Markit’s Final Services PMI.
The European session also saw the release of UK Construction PMI. Despite indicating contraction for the industry at 49.2, the print still beat expectations of 48.0 and the prior release of 48.9.
Looking ahead, today’s US session will see PMI data once again come into focus with the release of US ISM Services PMI and Markit’s Final Services PMI.
