PMI Disappointed Across the Board, Euro Slump on Uncertain ECB Action

Manufacturing PMI disappointed in Europe and China, whilst the corresponding US ISM data due today as the US market was closed on Labor Holiday yesterday. Soft economic data should raise speculations of further ECB action on Thursday. Yet, the single currency slumped to the lowest level in a year amidst the uncertain recovery outlook and the central bank’s decision.

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PMI Disappointed Across the Board, Euro Slump on Uncertain ECB Action