Money News Overview 25th October: Dollar edges slightly lower

Data-wise, the Eurozone flash PMIs for October were roughly consistent with predictions. The industrial sector remained in deep contraction area.

Data-wise, the Eurozone flash PMIs for October were roughly consistent with predictions. The industrial sector remained in deep contraction area.

The services remained in growth mode. In the UK, both sectors came in below expectations, indicating a slower rate of growth in the month. In contrast, the US PMIs were marginally higher than expected, albeit the statistics indicate that industrial activity has once again fallen.

In the currency market, the major pairs remained range bound. Against the backdrop of increased risk appetite, the dollar was under some downward pressure. Yesterday, the dollar fell about 0.2% against the euro, sterling, and yen.

Today’s main release will be the German Ifo survey for October. Meanwhile, in the United States, durable goods figures for September are due. However, neither announcement is anticipated to have an impact on foreign exchange markets.

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