European Business Activity Data

• French Manufacturing PMI (July), fact 49.7, forecast 50.0.
• German Manufacturing PMI (July), fact 43.2, forecast 43.1.
• Eurozone Manufacturing Business Activity Index (PMI) (July), fact 46.5, forecast 46.4.
• UK Manufacturing PMI (July), fact 48.0, forecast 47.7.

European manufacturing activity data (PMI) was more positive than expected. Therefore, pessimism across Europe has declined, but general dynamics of this indicator is below the level of 50.0 and remains downward.

Fig. Eurozone Manufacturing Business Activity Index (PMI) chart

The dynamics of the euro and the British pound remains moderately negative amid the strengthening of the US dollar and continued risk. The  EUR/GBP pair is limited by a narrow flat, correction after growth and restraint.

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Hanzenko Anton

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