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UK Preliminary Services PMI rises to 51.2 in January vs. 50.6 expected

  • UK Services PMI climbed to 51.2 in January, a positive surprise.
  • Manufacturing PMI in the UK jumped to 48.2 in January.
  • GBP/USD extends gains to near 1.2450 after UK business PMIs.

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) ticked higher to 48.2 in January from 47 in December. The data beat the market expectations of 47.1.

Meanwhile, the Preliminary UK Services Business Activity Index rose to 51.2 in January after recording 51.1 in December while coming in above the estimated 50.6 print.

Silver price today: Silver rises, according to FXStreet data

Silver prices (XAG/USD) rose on Friday, according to FXStreet data.
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EUR: 1.050 now looking feasible – ING

President Christine Lagarde delivers remarks in Davos today after having reiterated the guidance for gradual cuts earlier this week, ING’s FX analyst Francesco Pesole notes.
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