Data on business activity in the services sector (PMI) in Europe

• Business Services Index (PMI) of Spain (June), fact 53.6, forecast 52.7.
• Business Activity Index (PMI) in the Italian services sector (June), fact 50.5, forecast 50.0.
• Business Activity Index (PMI) in the French services sector (June), fact 52.9, forecast 53.1.
• Business Activity Index (PMI) in the German services sector (June), fact 55.8, forecast 55.6.
• Eurozone Markit Composite Business Activity Index (PMI) (June), fact 52.2, forecast 52.1.
• Business Activity Index (PMI) in the eurozone services sector  (June),  fact  53.6, forecast 53.4.
• Business Activity Index (PMI) in the UK services sector  (June), fact 50.2, forecast 51.0.

The data on business activity in the services sector (PMI) in Europe for June were multidirectional. At the same time, the indicator for the eurozone maintained an upward trend, which indicated the growth of the service sector. But this sector in the UK maintains a downward trend and remains near multi-year lows.

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

The market reacted to the published statistics on Europe with extreme restraint. But the published data confirm the upward trend of the EUR/GBP pair. Under the conditions of slowdown in the UK, this will open the way to resistance levels: 0.9000 and 0.9020, support: 0.8950 and 0.8940.

Fig. 2.  EUR/GBP сhart. Current price – 0.8970

Read also: “Expectations from the USD/JPY pair for the end of April – early May”

Hanzenko Anton

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