Currency Note Euro

Manufacturing data under the Eurozone spotlight

By Ricky Bean November 2nd, 2015

Friday was a mixed day for the euro with Eurostat – the statistical body of the European Union – reporting on Friday that the annual rate of inflation was up slightly to 0% in September, compared to August’s figure of -0.1%. Data also showed that the unemployment rate for the Eurozone improved to 10.8% last month from 11% in August (the predictions were for the rate to remain at 11.0% in September). All of this positive news did not stop the euro struggling against sterling but helped it make a positive impact against the US dollar.

It is an important start for the single currency this morning, with manufacturing Purchasing Managers’ Index (PMI) figures for the Eurozone and France released. Although these are forecast to remain flat, any deviations from expectations could cause movements in euro markets. Another key release will be German manufacturing orders on Thursday, which is expected to improve significantly from last month’s figure of -1.8%, up to 1%.