According to the recent report published by Markit Economics, the business activity in the Eurozone (19 countries) declined in September 2015. In particular, the Eurozone’s PMIs dropped down to 53,6 points, all the way down from 54,3points seen 4 weeks before, Market Leader reports.
This means that the activity is slowing down while it is still relatively strong since a value above the 50 level is considered to be a positive one. The area above 50 is the green zone.
At the same time, despite the fact that the rate of employment in the Eurozone has been growing for 11 months in a row, the dynamics slowed down to the lowest point in 4 years over the reporting period. In particular, the following nations saw a slowdown – Germany, Italy and Spain .
FOREX
Meanwhile, the common European currency keeps on developing its reactional move against the long-term rally versus U.S. Dollar, Masterforex-V Academy reports. The price has been staying around 1,1241 for a while.
The key levels of resistance - MF sloping channel + 1,1457 and 1.1712.
The key levels of support - 1,0849 + MF sloping channel.
.
