European Business Activity Data

• Italy Manufacturing PMI (Oct), fact 47.7, forecast 47.6.
• French Manufacturing PMI (Oct), fact 50.7, forecast 50.5.
• German Manufacturing PMI (Oct), fact 42.1, forecast 41.9.
• Eurozone manufacturing business activity index (PMI) (oct), fact 45.9, forecast 45.7.
• The index of business activity in the construction sector (October) in the UK,  fact 44.2,  forecast 44.0.

Business activity in the manufacturing sector of the eurozone exceeded market expectations and showed growth, which confirmed the preservation of optimistic sentiments in the market. The mood also improved in the UK construction sector. At the same time, the overall dynamics of all the above indicators remains restrained negative.

Fig. 1. German Manufacturing PMI

The dynamics of the euro remains restrained positive, continuing to receive support on the weakness of the American dollar and the growth of optimism. The main growth of the euro can be seen in cross rates, as the euro/dollar pair remains overbought and limited by the trading channel from 1.1200 to 1.1130.

Fig. 2. EUR/USD chart

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