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Drop in UK services PMI might point to recovery slowdown - Investec

FXStreet (Łódź) - Jonathan Pryor, Corporate Treasury Analyst at Investec suggests that the drop in the September UK services PMI, although still in the expansion area, might mean the economic recovery is losing momentum.

Key Quotes

"The UK services industry slowed in September with PMI falling to a 3 month low at 58.7 against August’s 60.5."

"This also falls in line with the comparison of quarter on quarter growth, the UK economy expanded by 0.9% in the second quarter of 2014 but is suggested to have grown at 0.8% in quarter three."

Sweden New Orders Manufacturing (YoY): -4.7% (August) vs -4.9%

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Kit Juckes, Global Head of Currency Strategy at Societe Generale suggests that the USD bullish momentum at the start of last week was boosted by positive US data.
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