Eurozone data
- Business Activity Index (PMI) in the Italian services sector (Apr), fact 50.4, forecast 54.4.
- Business PMI (Services PMI) in France (April), fact 50.5, forecast 50.5
- Index of business activity in the services sector in Germany (Apr), fact 55.7, forecast 55.6.
- Eurozone Composite Business Activity Index (PMI) from Markit (Apr), fact 51.5, forecast 51.3.
- The index of business activity in the services sector (Apr) Eurozone, fact 52.8, forecast 52.5.
- Retail sales (m/m) (March) of the eurozone, fact 0.0%, forecast -0.1%.
Published statistics for the euro area: business activity (PMI) in the services sector and retail sales have been largely positive. Eurozone composite business activity index (PMI) showed a slowdown in the downward trend, which can be traced from the beginning of the year. This can be regarded as a very positive factor for the resumption of growth in the services sector of the eurozone.
Fig. 1. Eurozone composite index of business activity (PMI)
The dynamics of the euro at the same time remains very restrained against the background of increasing risks and the strengthening of the American currency. Euro restraint is also seen in cross rates. In the face of lower overall risks, it is possible to accelerate the strengthening of the single currency, especially in relation to the British pound. Support levels for the EUR/GBP pair: 0.8520 and 0.8500, resistance: 0.8570 and 0.8590.
Fig. 2. EUR/GBP chart. Current price – 0.8530
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Hanzenko Anton
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