European stocks drop after disappointing Spanish PMI release

Note: This section contains information in English only.
Source: Investing.com
Spanish Manufacturing PMI dropped to 53.9 from 54.6 in the previous month. Analysts had forecast an increase to 54.7. During the morning, Euro Stoxx 50 decreased 0.72%, CAC 40 lost 0.83% and DAX retreated 0.75%. Despite several important releases due for this day, the most anticipated releases are the US non-farm employment change and unemployment rate.
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Fri, 01 Aug 2014 12:10:16 GMT

Pound Sterling forecasted lower against the US Dollar

The Pound is feeling continued pressure with the Dollar reaching higher levels. As the GBP/USD pair broke through both the 1.7 and 1.69 levels the soon due UK manufacturing PMI needs to show some really positive numbers to halt the decline. However, there seems to be further support for the USD from both the economy's data and institutions downgrading their forecast for the GBP/USD.

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