Euro zone economy speeds down

Euro zone economy speeds down

In October, euro zone business surge dived to a two-year minimum because escalating trade clashes as well as levies along with soaring political uncertainty, affected exports and also optimism. That’s what a poll disclosed on Tuesday.

While the poll along with official figures revealed that the deceleration is quite widespread, but the clouds over the euro zone aren’t as gloomy as recently perceived by traders.

Any upbeat signs are going to be welcomed by policymakers at the ECB because they consider stopping their 2.6 trillion euro asset buying program by the end of 2018, closing one of the key sources of stimulus to the EU economy.

In October, the Euro Zone Composite Final Purchasing Managers' Index went down to about 53.1 from September's reading of 54.1. That’s the lowest reading since September 2016. However, it appeared to be above a 52.7% flash estimate and also higher than the 50 mark separating contraction from growth.

Besides this, official figures disclosed that in Germany industrial orders surged by 0.3% in September, although a Reuters survey foresaw a 0.6% dive, suggesting the EU’s number one economy concluded the third quarter on a firm footing.

The final German services PMI was updated upwards to 54.7 from a preliminary outcome of 53.6, which appears to be one of the greatest upward updates in the poll’s history.

In addition to this, activity in France speeded up because companies increased hiring after a soar in new business and the expansion of Spain's service sector at its fastest tempo since June also backed by surge in new business, as earlier PMIs disclosed.

As follows from October's PMI data, the vast majority of the key euro zone economies are going to perform a bit better in the fourth quarter than in the third quarter.


Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

Gold Outlook Ahead of NFP
Gold Outlook Ahead of NFP

Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:

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Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!

Focus on Banks' Meeting and NFP
Focus on Banks' Meeting and NFP

The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.

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