The euro held at a nine-month top against the U.S. dollar and global equities bobbed at multi-month highs on Tuesday after reasonable European business activity data and a slew of corporate earnings kept risk appetite buoyant.
Britain’s flash Composite Purchasing Managers’ Index however dropped to 47.8 in January from 49.0 in December, the lowest since January 2021. Britain’s FTSE 100 was down 0.4%, underperforming the broader European market, and domestically-focussed mid caps gave up early gains after the PMI data to trade near flat.
by the end of the year and I think that’s what’s keeping sentiment buoyed at the moment,” said Fiona Cincotta, an analyst at Cityindex.The Federal Reserve’s rate setting committee begins its two-day meeting on Feb 1.has started to come down in recent months, and signs the U.S. economy is slowing could lead the Fed to start thinking about its next steps after a slew of rate hikes last year.