Spanish manufacturing sector down, Italian up

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Monday, May 04 2015

Spanish Manufacturing PMI posted 54.2 in April, down fractionally from the reading of 54.3 in the previous month and below expectations on slight rise to 54.4, but signalling a further solid strengthening of business conditions in the Spanish manufacturing sector. Operating conditions have now improved in each of the past 17 months.

Italian Manufacturing PMI rose to 53.8 in April, up from 53.3 in March, and above forecasts on rise 53.4, what signalled a third straight monthly improvement in operating conditions facing Italy’s goods producers. Furthermore, the latest reading was the second highest seen over the past four years, behind only last April’s 54.0.

Data did not have major impact on the markets with euro declining at the opening of the European part of the session and is currently being traded few points above 1.1160 level. Pair is likely to find support around 1.11 and resistance above 1.12 area. There will be no major data releases in the rest of the session.

More in this category: « New business in China at a one-year low Sterling little changed in a quite Monday's session »

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