Eurozone business activity data

• German Manufacturing PMI (December), fact 51.5, forecast 51.8.
• Index of business activity in the services sector in Germany (December), fact 52.5, forecast 53.4.
• Manufacturing PMI (Dec), fact 51.4, forecast 51.9.
• Markit Composite Business Activity Index (PMI) (Dec), fact 51.3, forecast 52.8.
• Index of business activity in the services sector (December), fact 51.4, forecast 53.5.

The data on business activity in the manufacturing sector (PMI) of the eurozone slowed down significantly in December. Particularly noteworthy is the business activity index in the manufacturing sector (PMI) of Germany, which has fallen to the minimum values ​​of 2016.

Fig. 1. German business activity index in the manufacturing sector (PMI) chart.

As a result, the euro accelerated the decline across the entire spectrum of the market against the background of this statistics, negative sentiment on stock markets also intensified, which markedly increased the general pessimism on stock markets and supported the US dollar.

EUR/USD pair remains under pressure from downward moods, despite being oversold. Also increased the decline, which will be limited to support levels: 1.1300 and 1.1270-60.

Fig. 2. EUR/USD chart. The current price is 1.1300.

Read also: “Geopolitical risks as fundamental market factors”

Hanzenko Anton

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