The latest PMI data suggests the possibility of a mild recession in the Eurozone in H2 and this will add further pressure on the ECB to leave interest rates unchanged at this week’s meeting.
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.2023-10-24 03:30:00HCOB flash PMIs. The composite index fell to 45.9 from 46.4 in September, while business activity fell from 50.3 to 48.0.
Business activity in France, the Eurozone’s second-largest economy, picked up marginally from September but remained in contraction territory. With the manufacturing sector falling deeper into contraction territory, indicators point to fractionalOverall, the Euro Area economic downturn accelerated at the start of the fourth quarter with the composite index falling to a 35-month low of 46.5 compared to 47.2 in September.
Commenting on the flash PMI data, Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said: “In the Eurozone, things are moving from bad to worse. Manufacturing has been in a slump for sixteen months, services for three, and both PMI headline indices just took another hit. In addition, all subindices point very consistently downwards, too, with only a few exceptions. Overall, this points to another lacklustre quarter.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. Any and all information provided by FXP is not intended for use by U.S. residents or individuals domiciled in the U.S.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
EUR/USD gains traction above 1.0660 ahead of the Eurozone, US PMI dataThe EUR/USD pair surges above the mid-1.0600s during the early Asian trading hours on Tuesday. The uptick of the major pair to the highest level in on
Weiterlesen »
EUR/USD Price Analysis: Moves upward toward 1.0700 ahead of Eurozone PMIEUR/USD continues to move upward for the fourth successive day, trading higher around the 1.0680 level during the Asian session on Tuesday. The pair e
Weiterlesen »
EUR/USD Forecast: Euro loses bullish momentum after PMI dataEUR/USD climbed to its highest level in five weeks near 1.0700 in the European morning on Tuesday but lost its traction following the disappointing PM
Weiterlesen »
Eurozone Preliminary Manufacturing PMI unexpectedly drops to 43.0 in October vs. 43.7 expectedmore to come ...
Weiterlesen »
EUR/USD Forecast: Euro looking at 1.0700 before key dataThe EUr/USD jumped on Monday, driven by a weaker US Dollar. The pair broke a downtrend line and climbed 1.0676, the highest level in a month. The outl
Weiterlesen »