Posted by arslan | Posted on 3:29 AM | Posted in
U.K. manufacturing unexpectedly rose in October to 53.7 versus forecasts of 50, which was the fastest expansion in two years. The gauge for new orders surged from 52.7 to 59.5 which may be a signal that current growth is sustainable .
Fundamental Headlines• Fed's Rate-Boost Cycle Comes Into Focus – Wall Street Journal• Ford Swung to 3rd-Quarter Profit – Wall Street Journal• US Senate to introduce draft financial bill – Financial Times• U.S. Stock Futures Gain Before Manufacturing Data; Ford, Alcoa, GE Advance – Bloomberg• CIT's Bankruptcy May Help Bondholders, Erase Taxpayer, Shareholder Stakes -Bloomberg
USD/CHF – Swiss manufacturing activity slowed to 54.0 from 54.3 according to the SVME-PMI reading. Output and backlogged orders slipped leading to the indicator missing economists’ forecasts for an improvement to 54.8. Regardless, it was the third straight month that the sector expanded adding to signs that the recession is ending. A slight improvement in employment to 42.4 from 42.1 is a sign that optimism is growing.
GBP/USD – U.K. manufacturing unexpectedly rose in October to 53.7 versus forecasts of 50, which was the fastest expansion in two years. The gauge for new orders surged from 52.7 to 59.5 which may be a signal that current growth is sustainable . The expansion in the manufacturing sector presents the BoE with a difficult decision. The central bank's concerns over tight credit markets and its impact on consumer spending has increased speculation that they will add to their asset purchase program. However, if the economy continues to show signs of growth the threat of inflation may give policy makers a second thought. To discuss this and other ideas, visit the EUR/USD Forum.
Fundamental Headlines• Fed's Rate-Boost Cycle Comes Into Focus – Wall Street Journal• Ford Swung to 3rd-Quarter Profit – Wall Street Journal• US Senate to introduce draft financial bill – Financial Times• U.S. Stock Futures Gain Before Manufacturing Data; Ford, Alcoa, GE Advance – Bloomberg• CIT's Bankruptcy May Help Bondholders, Erase Taxpayer, Shareholder Stakes -Bloomberg
USD/CHF – Swiss manufacturing activity slowed to 54.0 from 54.3 according to the SVME-PMI reading. Output and backlogged orders slipped leading to the indicator missing economists’ forecasts for an improvement to 54.8. Regardless, it was the third straight month that the sector expanded adding to signs that the recession is ending. A slight improvement in employment to 42.4 from 42.1 is a sign that optimism is growing.
GBP/USD – U.K. manufacturing unexpectedly rose in October to 53.7 versus forecasts of 50, which was the fastest expansion in two years. The gauge for new orders surged from 52.7 to 59.5 which may be a signal that current growth is sustainable . The expansion in the manufacturing sector presents the BoE with a difficult decision. The central bank's concerns over tight credit markets and its impact on consumer spending has increased speculation that they will add to their asset purchase program. However, if the economy continues to show signs of growth the threat of inflation may give policy makers a second thought. To discuss this and other ideas, visit the EUR/USD Forum.
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