The Pound Sterling (GBP) struggles for a firm footing despite a consistent sell-off in the past three months. The GBP/USD pair faces a ruthless sell-o
UK’s Services PMI is set to contract for the second time in a row.
UK economic activities are consistently facing the wrath of higher interest rates. Firms seem fully pessimistic about the economic outlook due to declining domestic and overseas demand. BoE Mann further added that policymakers are facing a “world where inflation shocks are likely to be more frequent” with stronger price growth, meaning interest rates will need to be permanently higher.
Meanwhile, the market mood remains quiet as investors await the United States Employment Change data to be reported by ADP at 12:15 GMT. As per the consensus, private payrolls are expected to increase by 153K in September, lower than August’s reading of 177K.
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