Private sector PMIs and Eurozone retail sales deliver mixed results, leave the markets to shift attention to U.S nonfarm payrolls.
It was a busy Eurozone economic calendar this morning. Member state and Eurozone private sector PMIs and Eurozone retail sales were in focus.
For Spain, the services PMI rose from 56.6 to 59.8 versus a forecasted 58.8.
Service sector activity in Italy also improved, with the PMI up from 52.4 to 55.9. Economists had forecast a rise to 54.8.
For France, the services PMI rose from 56.6 to 57.4, which was down from a prelim 58.2.
Germany’s services PMI increased from 52.4 to 52.7 which was down from a prelim 53.4.
For the Eurozone, the services PMI increased from 54.6 to 55.9, which was down from a prelim 56.6.
As a result, the Composite PMI rose from 54.2 to 55.4, which was down from a prelim 55.8.
According to the November survey,
By Country
For the euro area, retail sales rose by 0.2% in October, after having fallen by 0.4%% in September. Economists had forecast a 0.2% rise.
According to Eurostat,
Ahead of today’s stats, the EUR had risen to a pre-stat and current day high $1.13076 before falling to a pre-stat and current day low $1.12817.
In response today’s stats, the EUR fell to a post-stat low $1.12851 before rising to a post-stat high $1.13040.
At the time of writing, the EUR was down by 0.01% to $1.12996.
U.S nonfarm payrolls and ISM Non-manufacturing PMI numbers for November…
With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.