Data on business activity in the services sector in Europe

• Index of business activity in the services sector in Germany (Mar), fact 55.4, forecast 54.9.
• Eurozone’s Markit Composite Business Activity Index (PMI), fact 51.6, forecast 51.3.
• Index of business activity in the services sector of the Eurozone (Mar), fact 53.3,  forecast 52.7.
• Index of business activity in the services sector in the UK (Mar), fact 48.9, forecast 51.0.

Data on business activity in the Eurozone services sector turned out to be very positive for all key countries. From the overall positive report on activity in the services sector in Europe, data for the UK is standing out, which continue to decline and are close to their minimum values ​​over the past three years.

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

The EUR/GBP cross has slowed down the decline against the background of positive data on business activity in the Eurozone services sector and negative in the UK. Earlier, the British pound received support across the market on optimism regarding Brexit. In the current situation, the further strengthening of the British pound is limited to weak data on business activity and overbought of the British pound. Cross-rate is limited by resistance levels: 0.8570 and 0.8600, support: 0.8500 and 0.8470.

Fig. 2. EUR/GBP chart. Current price – 0.8530

Read also: “Another” Top 5 “books on trading. It can’t be too much information.”

Hanzenko Anton

---

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

Topical articles of the trader’s blog:

1. World central banks are preparing for lower rates
2. Financial quarter correction
3. Prospects for the euro based on the ECB policy

Current Investment ideas:

1. Johnson & Johnson shares are growing again! Connect to an investment idea now!