020 7898 0500The euro and US dollar traded fairly flat for most of the morning, though the pair then fell ahead of Wall Street’s opening. Strong US employment data helped the dollar strengthen across the board.
The euro-area manufacturing purchasing managers’ index came in at 57.0, up from 56.7 in April, owing to faster growth in output. Germany led the way, with their manufacturing sector posting figures that showed growth at a 73-month high. Unsurprisingly, Greece contracted, but most Eurozone countries showed growth.
Today we have a quiet day in terms of data releases in Europe. The main things to bear in mind are that Spanish unemployment data is expected to fall by 110,200 and an Italian bank holiday takes place today.
