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UK Service Sector Logs Moderate Growth In October

The UK service sector registered the slowest rate of expansion since March, survey results from IHS Markit and Chartered Institute of Procurement & Supply showed Monday. The Purchasing Managers’ Index dropped more-than-expected to 52.2 in October from 53.9 in September. The expected level was 53.4. Although the headline index has remained above the 50.0 no-change…

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UK Car Sales Decline In October: SMMT

UK new car market declined in October as the auto industry calls for policies to boost fleet renewal, the Society of Motor Manufacturers and Traders reported Monday. Car registrations decreased 2.9 percent annually to 153,599 units in October due to shortages across some brands caused by model changes and backlogs at test houses conducting tough…

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Pound Ticks Down After U.K. Services PMI

At 4.30 am ET Monday, UK CIPS/Markit services PMI has been released. The pound edged down against its major rivals after the data. The pound was trading at 1.2983 against the greenback, 147.04 against the yen, 1.3043 against the franc and 0.8764 against the euro around 4:34 am ET. The material has been provided by…

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U.S. Dollar Advances Ahead Of Fed Meeting

The U.S. dollar drifted higher against its major counterparts in the European session on Monday, as investors await key risk events due this week, including U.S. mid-term elections and the Fed meeting for directional cues. The Federal Reserve kicks off its two-day meeting on Wednesday, with economists anticipating interest rates to remain unchanged. Investors focus…

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UK Services Growth Moderates On Economic Uncertainty, Weak Orders

The UK service sector registered its slowest rate of expansion in seven months in October, survey results from IHS Markit and the Chartered Institute of Procurement & Supply showed Monday. The services Purchasing Managers’ Index dropped more-than-expected to 52.2 in October from 53.9 in September. The expected level was 53.4. Although the headline index has…