Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Data released on Tuesday showed that UK February headline manufacturing PMI surprised to the downside printing at 50.8, declining by 2.1pts, more than consensus' expectations. PMI is now 0.9pts below its 7-year average and 7.8pts lower than the last peak in August 2013. The January/February average relative to Q4 15 average registered 1.4pts lower, printing at 51.8.
Weak data confirms gradual moderation is still very much at play following January's bumper-start to the year. A strong GBP is probably still weighing on firms' ability to be competitive in the global market, according to the Markit Press Release. Data also highlighted that the operating environment has driven firms to become more price competitive in order to gain new businesses; this suggests a possible downside risk to the gradual pickup in CPI.
"We expect that sentiment will continue to moderate during 2016 in the run-up to the 23 June referendum as businesses become more cautious with regard to hiring, spending decisions and investment, only to be amplified by government policies on increased taxes (the apprenticeship levy), the increase in the national minimum wage, and the impending fiscal consolidation." said Barclays in a report.
