Business activity data in the Eurozone services sector

• Index of business activity in the services sector in Germany (October), fact 54.7,   forecast 53.6.
• Markit Composite Business Activity Index (PMI) (Oct), fact 53.1, forecast 52.7.
• Index of business activity in the services sector (Oct), fact 53.7,  forecast 53.3.

Business activity data in the services sector of the eurozone turned out to be very positive in general, despite the weak data for Italy and France. In total, the indicator of business activity in the Eurozone services sector was positive, which indicated a slowdown in the downtrend.

Fig. 1. Business activity chart in the eurozone services sector.

 

At the same time, the euro received modest support, which was strengthened by political risks in the US, but also limited by the negative dynamics of European stock indices. Strong resistance for the euro dollar pair is located at levels: 1.1430 and 1.1450, support: 1.1400.

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

Read also: “Fundamental Analysis: Labor Market and its Impact on the Dynamics of the National Currency”

Hanzenko Anton

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