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Series negative Preliminary Manufacturing PMI for the Eurozone

10:00 France Manufacturing PMI (JUL) P –  Actual: 49.6; Forecast:50.7; Previous:50.7;

10:30 Germany Manufacturing PMI (JUL) P –  Forecast:51.9; Previous:51.9;

11:00 Eurozone Manufacturing PMI (JUL) P – Actual:52.2  Forecast:52.5; Previous:52.5;

The data are lower than expected reading, it is bearish for the EUR.

The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.

 


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