UK S&P Global Composite PMI Final (Mar) 50.3 vs. Exp. 51 (Prev. 53.7)
The final March S&P Global Composite PMI for the UK came in at 50.3, missing the expected 51 and significantly down from the previous 53.7.
Iranian securities exchange chief outlines conditions needed to reopen the Iranian capital markets: says outcomes could include a ceasefire with a formal agreement and full reopening, or a ceasefire without agreement and a gradual reopening
Hungary to agree to buy oil from US at Orban-Vance meeting, Bloomberg reports
UK S&P Global Composite PMI Final (Mar) 50.3 vs. Exp. 51 (Prev. 53.7)
"News sources reported hearing sirens in Bahrain, Saudi Arabia and Kuwait followed by explosions", via IRIB News
Pakistan in last-minute efforts, along with Turkey and Egypt, to convince Iran to agree to the outline proposed by Pakistan, according to I24's Stein
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This decline suggests a contraction in economic activity, which may influence the Bank of England’s policy stance moving forward, particularly regarding interest rates and growth expectations. Overall, this print could weigh on GBP and sentiment around UK growth prospects.
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