UK PMI data came in lower than expected but remain in expansionary territory (above 50 points). Following the news, the GBP is appreciating against both the USD and EUR.
UK, flash PMIs for September
- Manufacturing: 51.5 vs 52.2 expected (52.5 previously)
- Services: 52.8 vs 53.5 expected (53.7 previously)
- Composite: 52.9 vs 53.5 expected (53.8 previously)

BREAKING: French and Spanish inflation came in line with expectations 📌
Economic calendar: Eurozone GDP and speeches from additional FOMC members 🎙️
Morning Wrap (14.11.2025)
BREAKING: USDCHF with little reaction to Swiss PPI reading