Forex Trading News UK Manufacturing PMI Released at Lowest Levels Since 1992
The UK Manufacturing PMI came out at 41.0 from the previously revised 45.3. This was forecast for a small decline to 45.0.
The GBP was dragged down slightly after this data. This PMI number is the lowest reading since 1992.
Forex Trading News European PMI Manufacturing
The release of the September Manufacturing Purchasing Managers Index (PMI) for Germany, France and Italy, as well as the Euro Zone came in as follows:
- Italian PMI - Expected: 46 Actual: 44.4
- French PMI - Expected: 43.6 Actual: 43
- Germany PMI - Expected: 48.1 Actual: 47.4
- Euro-Zone PMI - Expected: 45.3 Actual: 45
The release was generally softer than expected, suggesting the recent decline in commodity prices from all time highs, has reduced the cost associated with production throughout Europe. This decline in recent inflationary indicators in Europe (PMI / Producer Prices), could perhaps allow the ECB to lower rates without easing their rhetoric on being inflation centric.
Forex Trading News CHF SVME PMI Released Worse Than Expected
The CHF PMI came out at 47.8 from the previous 52.5. This was forecast for a small drop to 51.0.
The CHF did soften up after this release, especially vs. the EUR. The CHF did not move vs. the USD as the USD was getting dragged down across the board during the release.
Forex Trading News German Retail Sales Released
The German Retail Sales number came out at 3.1% from the previously revised -1.0. This was forecast for a rise to 0.5%.
The EUR made very subtle gains across the board after this better than expected data.
Forex Trading News Economic Calendar (10/1/2008)
Wednesday, October 1, 2008
Forex News Tankan Report Out in Japan- Large Manufacturers Index
Actual -3
Expected -2
Prior 5
Above 0.0 indicates improving conditions, below indicates worsening conditions. Manufacturing plays a critical role in the Japanese economy, and this survey is considered the best gauge of the industry’s health due to it’s large sample size and respected source;
Forex News AUD AIG Performance of Manufacturing Index Out at 47.2
Previous 47.0
level of diffusion ndex based on surveyed manufacturers. Survey of about 200 manufactuerers which asks respondents to rate the relative level of business conditions including employment,production, new orders, prices, supplier deliveries and inventories.
Forex News Preview: September 30th Asian Session
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