USD
The US economy was boosted yesterday by a positive estimate for Fridays
non-farm payrolls figure which indicated private sector employment increased by
230,000 jobs from September to October. That’s an increase from 213,000 in
September, suggesting that America’s labour market improved again last month.
 
Also in the US, the ISM (or institute of supply management) non manufacturing
services index fell from 58.6 in September to 57.1, lower than the expected 58

USD
The US economy was boosted yesterday by a positive estimate for Fridays
non-farm payrolls figure which indicated private sector employment increased by
230,000 jobs from September to October. That’s an increase from 213,000 in
September, suggesting that America’s labour market improved again last month.
 
Also in the US, the ISM (or institute of supply management) non manufacturing
services index fell from 58.6 in September to 57.1, lower than the expected 58
and falling to its lowest level since June, showing business conditions in the
US non-manufacturing sector have declined. The other measure for the service
sector is measured by the Markit index, which also showed the final services
sector purchasing managers index for October came in at 57.1, down from 58.9 in
the previous month.

GBP
In the UK, economists have warned that Britain’s economy is slowing down after
the service sector showed its weakest growth in 17 months. Services companies
such as banks, hotels and hairdressers which make up the bulk of Britain’s
private sector saw growth slip to the lowest level since May 2013, causing the
pound to fall to a one-year low aginst the dollar.

MPs have warned that Rolls-Royce’s plan to cut 2,600 jobs could have a serious
negative affect on the UK economy. And the retail sector is also having issues
with a decline in sales, which is mainly being blamed on a warmer autumn than
expected.

EUR
The eurozone’s service sector also released figures showing another tough
month, with private sector activity only slightly rising. 
France had a poor result with service sector activity contracting at a faster
pace. Italy showed growth, but businesses are evidently continuing to cut jobs.

Key Announcements:
10:30 GBP: Industrial production figures YOY expected to go to 1.5% from 2.5%
13:00: GBP: BoE Interest rate decision expected to remain at 0.5%
13:00 GBP: BoE Asset purchase facility (NOV) expected to remain at £375B
13:45 EUR: ECB interest rate decision expected to remain at 0.05%
14:30 EUR: ECB monetary policy press conference

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