Sullen Sterling as PMIs flash recession.......>

FOREX: Sullen Sterling as PMIs flash recession warning

-In the first real data releases of the week, Eurozone and UK prelim PMI numbers

were a mixed bag. UK numbers were a real sore point, with the composite PMI

release for November the poorest since July 2016, the month after the EU

referendum. These numbers were consistent with quarterly growth of -0.2%,

denting the Conservatives' ability to boast of their economic record ahead of

the December election. This has kept GBP under pressure throughout the day,

prompting the currency to fall against all others in G10. Better-than-expected

US figures added weight to the pair.

-EUR fared poorly as PMI data cemented the yawning gap between services and

manufacturing. The ECB Pres Lagarde's maiden speech in her new role stuck to the

line that the ECB need help from fiscal policy to hit inflation targets.

-German IFO and regional CPIs, Eurozone inflation data, US MNI Chicago PMI,

trade balance and GDP data are all due. A speech from Fed's Powell is on the

docket all ahead of the Thanksgiving holidays Thursday which keep US markets

closed.