Day: October 3, 2016

October 3
2016

EUR/USD Falls as ISM Manufacturing PMI Returns to Expansion

EUR/USD fell today after the manufacturing Purchasing Managers’ Index from Institute for Supply Management rose above the neutral 50.0 level, suggesting that the US manufacturing sector turned from contraction to expansion. The report from Markit also confirmed that the sector is expanding. Meanwhile, construction spending demonstrated an unexpected drop. Markit manufacturing PMI fell from 52.0 in August to 51.5 in September according to the final estimate, in line with […]

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October 3
2016

Yen Slips After Tankan Survey, Tries to Regain Footing

The Japanese yen fell today after the release of Tankan survey by the Bank of Japan. The currency trimmed as losses by now, though remains below the opening level against most of its major peers. According to the survey for September, the manufacturing index for large enterprises logged the reading of 6, unchanged from the previous month, while experts were counting on a small increase. The non-manufacturing index slipped from 19 to 18, in line with expectations. Overall, the report […]

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October 3
2016

Date for Brexit Set, Britain’s Pound Soft

The Great Britain pound was soft today after UK Prime Minister Theresa May announced date for the start of the Brexit. The news hit Britain’s currency, and even positive macroeconomic data released on Monday was unable to help the sterling. May said that she will invoke Article 50, starting Britain’s actual separation from the European Union, no later than the end of March 2017. Meanwhile, the Markit/CIPS UK Purchasing […]

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