- UK Manufacturing PMI is still strong.
- Euro Unemployment fell in Germany - ECB to hold rates but Draghi 's comments could undermine the common currency.
- GBP / USD at 9 -month high - U.S. Manufacturing provides a glimmer of hope.
- RBA holds interest rate of 2.5 % - talks to the decline in interest rates in the future.
Sterling
Markit released a report yesterday showed that
UK manufacturing activity accelerated in the third quarter at the fastest pace for two - and -a - half years. Although the score of 56.7 in September from a little weaker than 57.1 in August, the report showed that growth Output and New Orders remain near 19 -year highs in August. PMI results showed that the production of goods will give a huge boost to UK GDP and bodes well for the future performance of Sterling. The only negative to come out of the report that Foreign exports did not rise as fast as could be expected, especially given that the UK's largest export market - the euro zone - have recently emerged from recession.
