Business activity data in Europe

• German Manufacturing PMI (Oct), fact 52.3, forecast 53.5.
• Index of business activity in the services sector of Germany (October),  fact of53.6,  forecast  55.5.
• Manufacturing PMI (Oct) in the Eurozone, fact 52.1, forecast 53.0.
• Markit Composite Business Activity Index (PMI) (Oct) in the Eurozone, fact 52.7, forecast 53.9.
• Index of business activity in the services sector (Oct) in the euro area,  fact 53.3,  forecast 54.5.

Data on business activity in the eurozone in October deteriorated in all respects, which resumed the decline in the euro as risk increased and supported the US dollar.

Fig. 1. Business activity index chart in the manufacturing sector (PMI) of Germany.

 

The EUR/USD pair has accelerated the decline against the background of political risks in Europe and this statistic. But it is limited to the downward channel and support levels: 1.1400 and 1.1380-60.

Fig. 2. EUR/USD chart. The current price is 1.1420.

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Hanzenko Anton

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