Britain’s composite PMI increased to 54.0 in April from 52.8 in March. The BoE’s chief economist, Huw Pill, said that rate cuts remain some way off. US business activity cooled significantly, leading to a decline in the dollar. The pound’s rise following the release of encouraging PMI data on Tuesday sparked a bullish outlook for...
Data on Tuesday revealed a big jump in the Eurozone’s services sector. ECB’s Luis de Guindos confirmed the June rate cut. Any policy divergence between the Fed and the ECB could weaken the euro. The EUR/USD price analysis leans bullish as the euro gains ground on upbeat PMI data. Despite this positive momentum, investor focus...
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