UK S&P Global Services PMI Sep P: 51.9 (est 53.5; prev 54.2)
- Manufacturing PMI: 46.2 (est 47.1; prev 47.0)
- Composite PMI: 51.0 (est 53.0; prev 53.5)
Lower than expected PMI data may reduce market bets on more hawkish BoE stance regarding interest rates policy. That's why we observe bearish momentum on GBPUSD pair.
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Daily summary: Weak US data drags markets down, precious metals under pressure again!