Outlook Improves As Global Private Sector Activity Rebounds
A hint of cautious optimism is creeping into currency markets this morning after a raft of activity gauges suggested that the global private sector is proving surprisingly resilient in the face of the US trade onslaught. The dollar is trading sideways, yields are up slightly, and North American equity futures are pointing to continued selling pressure, but this appears largely contained in the technology sector, with broader measures looking relatively stable. The euro and British pound are both holding steady against the dollar after preliminary August purchasing manager indices popped higher, outperforming expectations for a modest improvement. In the euro...