According to the recent report released by Markit Economics, the Eurozone’s Manufacturing PMI showed negative dynamics in September 2015, Market leader reports. In other words, the PMI figures matched analyst expectations.
In particular, the PMI readings dropped from 52,3 in August down to 52 points in September. It should be noted that apart from matching analyst expectations, the final figures also matched the preliminary ones.
Markit reports that the French economy is going back to the previous pace of growth, which is confirmed by a decline in output prices and expenses. The report show that the Eurozone’s manufacturing sector has been going on with its stable dynamics (Q3 2015) even despite the slowdown since a value above the 50 level is considered to be a positive one.
FOREX
As for the common European currency, it has been trading within the scope of the same long-term retracement relative to the U.S. Dollar. According to Masterforex-V Academy, the price has been fluctuating around 1.1220 for a while.
The closest major levels of support are located around the ascending MF sloping channel and pivot 1,0849 while the closest major levels of resistance can be found around the descending MF sloping channel as well as pivot 1,1457 and the local high of 1.1712.
