Market movers today
* The calendar is dominated by PMI releases. The first will be UK manufacturing PMI for October, which we expect to correct slightly from its current elevated level.
* In the US we will get the final Markit PMI and the ISM manufacturing index for October. The gap between the two indices has increased over the past couple of months. While the flash October PMI suggested a significant decline in the ISM, the regional Fed manufacturing surveys have been positive. Overall we expect only a small decline to 55.5.
* Now that we are past the FOMC meeting, the silent period for the FOMC members is over. The speech by Fed’s Bullard today could prove interesting, as he will comment on the state of the economy and will take questions.
* Manufacturing PMIs are published in Sweden, Denmark and Norway.
Read the full report: FX Daily
Danske Bank