Yesterday’s macro calendar was lacking data and had no directional impact on markets. The July existing home sales data in the United States was one of the few noteworthy releases. The home market update was weaker than anticipated.
The dollar was seen as having the upper hand in currency markets. Simultaneously, the euro was under slight downward pressure.
Meanwhile, sterling’s recent rise against the dollar came to a halt yesterday, with the GBP/USD pair falling back into the bottom part of the trading range.
Looking ahead to today, we receive the week’s primary data highlight with the release of August flash PMIs from the US, Eurozone, and UK. The survey results are expected to reflect a continuing discrepancy between the contracting manufacturing and growing services sectors.