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PMIs in the limelight today – Danske Bank

FXStreet (Edinburgh) - The advanced gauges of the manufacturing and services PMIs in the euro area and the US economy will be the most relevant releases today, noted Jens Pedersen, Senior Analyst at Danske Bank.

Key Quotes

“Focus will be on flash estimates for PMIs”.

“In the euro area we expect both manufacturing PMI and service PMI to have continued to edge slightly lower in September, as geopolitical uncertainty continues to weigh on sentiment”.

“That said, service PMI is expected to remain relatively resilient above 52 and there are tentative signs that the soft patch in the manufacturing sector has started to ease”.

“In the US, on the other hand, we expect the flash estimate for the Markit manufacturing PMI to have improved further in September despite its already very high level close to 58”.

“This underscores a very strong US economy and the current substantial divergence between the US economy and the rest of the world”.

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