UK Manufacturing Sector Buoyed By Domestic Demand

British manufacturers reported robust growth last month and rising inflation pressures, adding to the chances that the Bank of England will raise interest rates on Thursday for the first time in a decade.The IHS Markit/CIPS manufacturing purchasing managers’ index (PMI) rose to 56.3 in October from an upwardly revised 56.0 in September. This was above its long-run average and bucking economists’ forecasts in a Reuters poll for a slight fall.UK manufacturing made an impressive start to the final quarter of 2017 as increased inflows of new work encouraged firms to ramp up production once again,” said Rob Dobson, a senior economist at IHS Markit, which compiled the data.

Source: UK factories r eport stronger activity in October – IHS Markit – Reuters

Markets Rally Ahead of Fed Decision

USD/CAD – Canadian Dollar Flat Ahead of Fed Statement, Poloz Testimony

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.