Business activity data in Europe services sector

• Index of business activity in the German services sector, fact 55,0, forecast 55,2.
• Index of business activity in the euro area services sector,  fact 54.2, forecast 54.4.
• Index of business activity in the Great Britain services sector,  fact 53.5, forecast 54.7.

Business activity in the services sector slowed down in almost all of Europe in July, except Italy. The index of business activity in the service sector in the euro area remains near the annual minimum.

Fig. 1. Graph of the index of business activity in the services sector in the euro area

As a result, the US dollar received support, and the pair EUR/USD accelerated the decline, while remaining resold. Now the significant support is the mark 1.1550, from which one should expect a correction on the waiting for employment  data in the US. In doing so, it will be limited to the level of 1.1600.

Fig. 2. EUR/USD chart. Current price – 1.1580

Read also: “New Zealand Dollar (NZD) – features of trading on cross-rates”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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