Contraction of industrial activity in China but rebound in services
The August PMIs confirmed the negative impact of the power cuts on China’s industrial activity in September, with the manufacturing PMI falling below 50 for the…
The market is already in a wait-and-see mode before the ECB meeting and, above all, the release of May US inflation figures on Thursday. The Fed meeting will then follow next week. Limited market moves yesterday. The EUR/USD exchange rate was up, but then gave up some of its gains to trade around 1.2180 this morning. Very busy economic agenda today, mainly in Europe. No big market mover nevertheless.
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