Market news
03.09.2021, 10:10

European session review: EUR edges lower after latest data from Eurozone

TimeCountryEventPeriodPrevious valueForecastActual
07:50FranceServices PMIAugust56.856.456.3
07:55GermanyServices PMIAugust61.861.560.8
08:00EurozoneServices PMIAugust59.859.759
08:30United KingdomPurchasing Manager Index ServicesAugust59.655.555.0
09:00EurozoneRetail Sales (YoY)July5.4%4.8%3.1%
09:00EurozoneRetail Sales (MoM)July1.8%0.1%-2.3%

EUR depreciated slightly against most of its major rivals in the European session on Friday, as investors assessed the latest reports on Eurozone’s services sector PMI and retail sales data for July, while awaiting the most important event of the week - the release of the U.S. jobs data for August later today.

The latest report by IHS Markit revealed that the Eurozone’s services sector saw a slight loss of growth momentum in August after hitting a 15-year high in the previous month. According to the report, the IHS Markit Eurozone PMI Services Business Activity Index came in at 59.0 in August, down from 59.8 in July and a flash estimate of 59.7. Economists had forecast the indicator to stay unrevised at 59.7.

Meanwhile, the data, provided by Eurostat this morning, showed an unexpected decline in the euro area's retail trade volumes in July. According to the report, the seasonally adjusted volume of retail trade in the Eurozone fell by 2.3% m/m in July, following a revised 1.8% m/m advance in June (originally a 1.5% m/m gain). On a y/y basis, the region’s adjusted retail sales climbed by 3.1%, following a revised 5.4% surge in June (originally a 5.0% jump). This was the smallest gain in five months. Economists had forecast the Eurozone’s retail sales in July would increase 0.1% m/m and 4.8% y/y.

Investors are waiting edgily for the U.S. August employment situation report, which will be released at 12:30 GMT and is expected to be a catalyst for the currency market, as it could provide clues on the timing of the Federal Reserve’s pullback in bond buying and determine the direction of the U.S. currency.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location