UK Preliminary Services PMI slips to 51.8 in October vs. 52.2 expected

UK Services PMI drops further to 51.8 in October, misses estimates.
Manufacturing PMI in the UK fell to 50.3 in October.
GBP/USD trims gains to near 1.2960 after UK business PMIs.

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) eased to 50.3 in October from 51.5 in September. The data missed the market forecast of 51.4.

Oct 24, 2024

United Kingdom S&P Global/CIPS Manufacturing PMI registered at 50.3, below expectations (51.4) in October

Mexican Peso reverses in technical bounce and revival of carry

The Mexican Peso (MXN) edges higher on Thursday following a reversal on Wednesday, in which it first fell to a one-month low against the US Dollar (USD) but then reversed – partly due to technical buying – and recovered by an average of about half a percent in its most heavily-traded pairs – the USD/MXN, EUR/MXN and GBP/MXN.