Breaking News

Eurozone Services Purchasing Managers Index (PMI)

Latest Release

Nov 23, 2023

Actual

48.2

Forecast

48.1

47.8

The Services Purchasing Managers' Index (PMI) is a diffusion index incorporating survey results provided by firms in the services sector throughout the country. A reading above fifty suggests the service sector is expanding, while a reading below fifty suggests the service sector is in contraction. Policymakers and traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, rather than waiting for the hard data to emerge. The service sector is far larger than manufacturing sector and thus accounts for the largest share of the country’s economic output.

A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR.

Importance:

Country:

Currency: EUR

Source: markit

Release Date	Time	Actual	Forecast	Previous
Dec 15, 2023 (Dec)	09:00			47.8
Dec 05, 2023 (Nov)	09:00		48.2	47.8
Nov 23, 2023 (Nov)	09:00	48.2	48.1	47.8
Nov 06, 2023 (Oct)	09:00	47.8	47.8	47.8
Oct 24, 2023 (Oct)	08:00	47.8	48.7	48.7
Oct 04, 2023 (Sep)	08:00	48.7	48.4	47.9

News

Sterling edges up as grim data not as bad as euro zone survey By Reuters - Oct 24, 2023 2

By Amanda Cooper LONDON (Reuters) - The pound edged up against the euro on Tuesday, shaking off data that showed the UK labour market lost more steam in August and business activity deteriorated this...

Pound to Euro Week Ahead Forecast: Bottom Feeding By PoundSterlingLIVE - Oct 23, 2023

PoundSterlingLIVE -GBPEUR nursing wounds following another weekly loss But starting to look oversold says ING Watch for divergence in Eurozone and UK PMIs Tuesday ECB interest rate decision is key...

European stocks higher; PMIs mixed, Nvidia earnings due later By Investing.com - Aug 23, 2023

Investing.com - European stock markets traded higher Wednesday, with investors carefully studying key regional activity data as well as eagerly awaited quarterly earnings from chip maker Nvidia. At...

Analysis

How Much Lower Can EUR/USD, GBP/USD Go in Light of Powell's Hawkish Remarks? By Günay Caymaz - Sep 22, 2023

US dollar continues to strengthen on Fed's hawkish stance EUR/USD could continue to head lower on the back of weak data from Eurozone Meanwhile, GBP/USD is now edging closer to support level at 1.22...

FX Daily: Re-Pricing for a World of Higher US Rates By ING Economic and Financial Analysis - Sep 22, 2023

USD: 4.50% on the US 10-year yield could pressure risk assets EUR: More pain from the PMIs? GBP: Most of the short-term repricing is done EM: Good news for India, bad news for Egypt USD: 4.50% on the...

Newsquawk Week Ahead: Jackson Hole, PBoC LPR, Flash PMIs, CBRT, Japan's Tokyo CPI By Ryan Anderson - Aug 18, 2023

Week Ahead August 21st-25th MON: PBoC LPR, German PPI (Jul) TUE: US Richmond Fed Index (Aug), New Zealand Retail Sales (Q2) WED: EZ/UK/US Flash PMIs (Aug), Canadian Retail Sales (Jun), US New Home...

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