UK PMI data for October were broadly weaker than forecast. Manufacturing, Services and Composite readings all held above the 50 point this month but the sharp drop in Manufacturing (50.3, from 51.5) and the Composite measure (51.7, from 52.6) suggests a notable slowing in growth momentum, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Euro (EUR) is nudging back over the 1.08 line as trading gets going in North America, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

After the Chinese renminbi almost slipped below 7 against the US dollar in the wake of the stimulus announcements at the end of September, the euphoria subsided considerably in October.

EUR/GBP retraces its recent gains registered in the previous session, trading around 0.8320 during the European hours on Thursday.

EUR/USD shed another fifth of a percent on Wednesday as the Fiber crumples ahead of Thursday’s fresh round of Purchasing Managers Index (PMI) figures.

There may have been some headline uncertainty going into this decision, but markets and economists were clearly leaning towards this outcome.

This afternoon UK time, the Bank of Canada (BoC) will announce its regular interest rate decision - and after the developments of the past few weeks, there is much to suggest that it will accelerate the pace of rate cuts, Commerzbank’s FX Analyst Michael Pfister notes.