The rising USD caused GPB to fall sharply along with the market

25 Okt 2023

Meanwhile, the Bank of England will set interest rates at its policy meeting next week, following the Fed's decision on November 1. The European Central Bank meeting ends tomorrow, October 26, with traders expecting all three central banks to keep interest rates stable.

“October PMI surveys suggest that economic activity got off to a rather tepid start in Q4, especially in Europe,” said Capital Economics global economist Ariane Curtis.

Helen Given, Forex Trader at Monex USA said: “While all three US PMIs were positive, the UK and Eurozone numbers both showed contraction, re-emphasizing the possibility The resilience of the US economy compared to other economies in the world.