Market Focus

On Tuesday, October 23, 2017, there is not a lot of significant news in the economic calendar. Keep an eye on preliminary data on business activity in the manufacturing and service sectors of Germany. These indicators are taken into account by market participants, as they reflect the state of the productive and non-productive sectors of the German economy.

According to the forecast, the index of business activity in the manufacturing sector (PMI) of Germany in October will fall to the level of 60.2, against the value of September at 60.6. The index of business activity in the German services sector will remain at 55.6 in October. The release of data within the forecast will not have a significant impact on the single currency, as their change is rather insignificant. In the event that the data come out with a deviation of 5% of the previous values, one should expect the euro to move within 40 points against its competitors.

Alexander Sivtsov