- GBP: The British Pound is gaining momentum following stronger-than-expected preliminary PMIs in the UK released yesterday. S&P Global reported that the UK manufacturing sector grew at its fastest pace in two years, with the index climbing to 52.5 in August, beating market expectations of 52.1.
- EUR: Meanwhile, the Euro remained relatively flat yesterday, even though services growth in the Eurozone exceeded forecasts. The latest PMI data for the region showed a significant uptick in the services sector, with the index reaching 53.3 in August’s preliminary estimates, well above the anticipated 51.9.
- USD: The U.S. Dollar rebounded slightly from seven-month lows due to some bargain buying, though investor sentiment remains generally negative amid expectations of interest rate cuts. All eyes are now on Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium today for further economic insights.