Release of a flash PMI indices for August is a key event of the day in Europe. Readings from France and Germany have already been released. French data came more or less in-line with expectations and the market saw almost no reaction to this release. However, equity market indices began to move lower ahead of the German data release (8:30 am BST) and downward move was deepened after data was published. German manufacturing PMI dropped more than expected and put pressure on indices. Services index from Germany beat expectations but also moved lower compared to a previous month.
France
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app-
Manufacturing: 57.3 vs 57.1 expected
-
Services: 56.4 vs 56.2 expected
Germany
-
Manufacturing: 62.7 vs 65.1 expected
-
Services: 61.5 vs 61.0 expected
DE30 started to move lower following the opening of today's cash session in Europe. Downward move was further deepened after the release of lacklustre PMIs from Germany. The near-term support zone to watch or the index can be found at 38.2% retracement of the upward move started on Thursday, August 19 (15,810 pts area). Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
