- S&P Global Integrated PMI falls from 49.5 to 47.3.
- Manufacturing PMI goes to levels below 50.
- The dollar loses strength after worse-than-expected data.
The S&P Global Integrated PMI showed a decline from 49.5 to 47.3 in October, according to the preliminary report, below the expected 49.1. It is the lowest reading in two months.
The Manufacturing Index went from 52 to 49.9, well below the expected 51.2thus reaching the lowest level in 28 months. Meanwhile he service index it also fell in October, from 49.3 to 46.6, below the market consensus of 49.2, the lowest in two months.
The report highlights that the private sector was affected by challenging demand conditions and concerns about inflation. The dollar fell after the report. DXY pulled back from the highs and approached 112.00, although it was still higher for the day.
Earlier on Monday, the Chicago Fed’s national activity index was released showing better-than-expected figures. On Thursday the GDP for the third quarter will be known and the Fed will meet on November 1 and 2 to decide on monetary policy.
Source: Fx Street
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