Friday October 31, 2008 - 12:08:36 GMT
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Forex News Preview: US Chicago Purchasing Managers index due at 9:45 AM
At 9:45 AM the final major regional manufacturing index will be released when the Chicago PMI Index is announced. Last month the index came in at 56.7. The third month in a row with the index above the 50 level indicating expansion of the manufacturing base. Stronger exports helped contribute to the gain.
For October,, the index is expected to fall sharply to 48.0 below the key 50 level. The stronger dollar, slower foreign and domestic spending, and tighter credit conditions should all contribute to the reveral of fortune. The Empire, Philadelphia and Richmond regional indices have already shown greater than expected weakness in their regional indices.
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