The most important data from IHS Markit report we can read below. It should be noted that all the calculations are preliminary to October – data collected over a period 12-21.10.2016:

  • Overall PMI for the euro zone – 53.70, 52.60 in September, a 10-month peak
  • PMI services – 53.50, 52.20 in September, the 9-month peak
  • PMI index of industrial production – 54.40, 53.80 in September, a 10-month peak
  • PMI industrial – 53.30, 52.60 in September, a 30-month peak

markit-mpi

Chris Williamson, chief economist at IHS Markit comments results published on Monday: ‘Eurozone economy showed renewed signs of life at the beginning of the 4th Quarter, enjoying the strongest expansion in 2016. With the rapid development of the labor market and business activity, at the end of this year it will be possible to achieve even higher record levels.”

EURUSD is testing the July lows

Eurodollar quotations at the beginning of the week have tested several months lows last Friday, then began an upward correction pushed thanks to better-than-expected US PMI:

eurusdh1-24-10

Technical lookout and lower highs suggests that the sellers pressure will persist and bears should continue its downward rally.

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