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The revision to the UK PMI reading on manufacturing has just been released. That was previously gauged at 50.3 in October. It has just been revised lower, to 49.9 which means it has slipped back into contractionary territory (anything below 50), which is not great news, albeit by the slimmest of margins. The Pound has not moved on this report though, but the FTSE 100 is not necessarily going to take this lying down. We shall see on that. So, far today the index has been pressing higher and lifted above 8,150. It is not far removed from that level, but in truth, given the immediate back drop this report is not particularly welcome news.
Well, you were alerted to something rather strange going on this afternoon in Gold and since then the metal has taken another lurch lower. This time...
The US stock markets have not long reopened for the final trading session of the week. It has been a very modestly higher opening across the board...
Given the reaction in the GBP/USD and the USD/JPY after the US sales data you might easily be forgiven for thinking the EUR/USD should be above 1.05...
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