Non-manufacturing index slumped to 51.4, the lowest since February 2010, from 55.5 in July. the figure is lower than the most pessimistic projection in a Bloomberg survey. Measures of orders and business activity skidded by the most since 2008, when the U.S. was in a recession. USD lost ground against all major currencies. EURUSD moved 80 to the upside
Posted in: Market wraps,
Tags: Beige Book, Cash rate AUD, CPI y/y CNY, crude oil inventories, Final GDP q/q JPY, GDP q/q aud, GDT Price Index, ISM Manufacturing PMI, Manufacturing Production m/m GBP, Minimum Bid Rate EUR, Overnight rate CAD, PPI y/y CNY, Trade Balance AUD,
Cable has been performing very well over the last few weeks. The pair has been closing higher for three consecutive weeks and closed unchanged last week. Speculators decreased their shorts by 3.3K for the first time in many weeks. At the same time they reduced longs by 863 contracts only. They are 90K net short, this is down from being 93 in the previous week. Today speculators are less bearish in GBP futures than a week ago.
Posted in: Commitments of Traders,
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