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UK CBI data to show industrial sector under pressure
Asian equity markets are generally up this morning following gains in European and US markets yesterday. Minutes from the November US Federal monetary policy confirmed that policymakers now favour slowing the pace of US interest rate increases. China signalled the likelihood of more monetary policy stimulus including a probable cut in banks’ reserve requirement ratios. US markets will be closed for the Thanksgiving holiday today. Yesterday’s November UK PMI data showed both manufacturing and services headline indices still stuck below the key 50 level that signals a contraction in activity. Manufacturing output ... (full story)