Recent bad news for the US economy seems to have been positively interpreted by financial markets. The sudden drop in the ISM manufacturing index and the labour market report for August were disappointing.
However, US equity markets responded by rising slightly. In Europe, Japan and emerging economies, equity markets have also risen over the past few days and emerging currencies have rallied too.
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BNPP IP: Economic data roundup – probability of US rate hike recedes after weak data
