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Eurozone PMI data in focus this week - BNZ

FXStreet (Łódź) - Spiros Papadopoulos, economist at BNZ, suggests that due to recent concerns over the Eurozone recovery market attention will focus this week on the October manufacturing and services PMI releases for Germany, France and the Eurozone.

Key quotes

"Overall we look for the Eurozone composite indicator to ease slightly from the 52 reading in August, but remain above 50."

"Within this most interest will be in the German readings. Here services activity expanded faster in August to 55.7 and we’d expect a moderation given the backdrop."

"The more pressing concern is manufacturing, which moved into contractionary territory in August at 49.9. Did this move back above 50 in September or sink further?"

"The moves are likely to be small but either way the outcome is likely to move markets given the proximity to 50 and the signal either way provides."

"French manufacturing and service sector PMIs will remain in contractionary territory."

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