UK Services PMI | Risk-Off Sentiment

There is no trade call for the session open. We will be looking for a negative deviation on UK Services PMI to short Cable. Check out this weeks risk event video here to learn more about this release.

Current Sentiment:

During the Asian session, antipodean currencies came under pressure as the PBOC devalued the offshore yuan to the weakest reference rate since April 2011. Kiwi fell 75 pips from session highs, also in the wake of negative GDT during yesterday’s NY session. Aussie was down 65 pips.

Chinese Caixin Services PMI exacerbated risk off moves coming in at 50.2, which marks the lowest reading since August 2014 and only marginally still in expansionary territory.

Also during the Asian session North Korea tested a hydrogen nuclear bomb which has concerned South Korea and added to some risk-off sentiment.

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Source:: UK Services PMI | Risk-Off Sentiment

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