GBP/USD Teases Eight day top Above 1.2900 Ahead of UK Manufacturing PMI; Made Smarter Technology Accelerator Launched for UK Manufacturing; Euro Zone Factory Recovery Strengthened in Sept as Germany Steps up; Government Wants to Boost Australian Manufacturing After Learning Lessons of COVID-19.
GBP/USD Teases Eight day top Above 1.2900 Ahead of UK Manufacturing PMI
- GBP/USD prints mild gains after snapping a three month rise in September.
- Brexit optimism, US dollar weakness helps cable to battle the virus woes.
- Tory government now has the sweeping powers to control COVID-19, EU’s Barnier sounds optimistic off-late.
- UK Manufacturing PMI, speech from BOE’s Haldane and US ISM Manufacturing PMI can entertain traders ahead of Friday’s NFP.
Made Smarter Technology Accelerator Launched for UK Manufacturing
One of the UK’s most advanced digital technology centres has launched the Made Smarter Technology Accelerator for manufacturing firms.
Digital Catapult, part of the network of catapult centres including for High Value Manufacturing, is calling for medium and large manufacturing industry partners to participate.
Source: Production Engineering Solutions
Euro Zone Factory Recovery Strengthened in Sept as Germany Steps up
LONDON, Oct 1 (Reuters) – The euro zone manufacturing recovery gathered pace last month, largely driven by strength in Germany, as the region’s factories saw a surge in demand after some coronavirus restrictions were relaxed, a survey showed.
As the pandemic raged across Europe governments imposed tough lockdowns, but as infection rates fell many of those controls were removed. However, a resurgence in cases has meant some restrictions have now been reimposed.
Government Wants to Boost Australian Manufacturing After Learning Lessons of COVID-19
The Federal Government will pump close to $1.5 billion into Australia’s manufacturing sector, outlining plans to shore up local production and strengthen supply chains in the wake of COVID-19.
Under the manufacturing strategy unveiled on Wednesday, $107 million will be dedicated to strengthening supply lines for essential goods.
Source: ABC news