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European Business Activity Data
- Business Activity Index (PMI) in the French services sector (July), fact 52.6, forecast 52.2.
- Business Activity Index (PMI) in the German services sector (July), fact 54.5, forecast 55.4.
- Composite Business Activity Index (PMI) by Markit (July) of the Eurozone, fact 51.5, forecast 51.5.
- Eurozone Business Activity Index (July), fact 53.2, forecast 53.3.
- UK Business Activity Index (July), fact 51.4, forecast 50.4.
Business activity in the European services sector showed mixed trends in July. Concerns about business activity in the services sector were shown by data from the eurozone, which showed a slowdown in Germany and in the eurozone in general, showing a steady decline in this indicator throughout July, which may indicate a recession.
Fig. 1. Eurozone business activity index chart (July)
The market did not actually respond to weak statistics in Europe, continuing to be influenced by the aggravation of the trade war and negative sentiment. The dynamics of the euro against the dollar remains upward, receiving support from the risks and limiting itself to overbought and resistance levels: 1.1150 and 1.1180.
Fig. 2. EUR/USD chart. Current price – 1.1150
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Hanzenko Anton
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