Yesterday, the UK PMI services data came in higher than predicted at 49.3 (vs. 47.2). Meanwhile, the Pound climbed versus the Euro and the Dollar, but has subsequently plummeted this morning.
The UK PMI construction data are expected to decline for the third consecutive month to 49.9 – if the report falls below 50, it indicates a contraction within the sector, potentially weighing on the Pound.
Today, there is a pretty light data schedule. The main release of note in the United States is initial jobless claims. Meanwhile, comments from a number of central bank officials may be of interest.
However, markets may choose to keep the assets they hold dry ahead of the reporting of September non-farm payrolls in the United States tomorrow.
