Euro is under pressure
The single currency remains under pressure against the US dollar, amid mixed statistics on Germany.
- According to published preliminary data, the index of business activity in the manufacturing sector (PMI) of Germany in October was 60.5, which is higher than the forecast at 60.2, but lower than the previous value at 60.6.
- The index of business activity in the German services sector slightly decreased in October and amounted to 55.2, against the September value of 55.6.
It is worth noting that the strong pressure on the EUR/USD pair is exerted by the strong position of the US dollar. The dollar index rose to the level of 93.84 at the beginning of the European session, having played all the lost positions during the Asian trades.
Fig. Current price DXY-93,762
Alexander Sivtsov