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.