Spanish Services PMI up, Italian down

wrapper

News
Analysis
- Fundamental
  
  Daily fundamental analysis
  
  Weekly fundamental analysis
- Technical
  
  Daily technical analysis
  
  Weekly technical analysis
Charts
Basic terms
Education
Calendar
Contact

Wednesday, Aug 05 2015

The headline seasonally adjusted Spanish Services PMI rose to 59.7 in July from 56.1, its highest reading in three months, thus beating forecasts on decrease to 55.8, and pointing to a further strong increase in activity in the service sector. Activity has now risen in each of the past 21 months. Intermediation sector again posting the sharpest rate of expansion.

Separate report on Italian Services PMI registered 52.0 in July, signalling a fifth successive monthly increase in business activity. Analysts were anticipating smaller decrease to 53.2. However, the rate of expansion signalled by the index was the slowest since March. Business activity rose modestly in July, supported by accelerating inflows of new work at companies. However, employment fell slightly and for the first time in six months, despite businesses’ future expectations rebounding from June’s recent low.

Data did not have any major impact on the markets with euro currently being traded at 1.0860 level. Pair is likely to find support around 1.08 area and resistance above 1.0930 level. Later today, in the US session, ADP job figures and Trade Balance data is scheduled for a release.

More in this category: « China Services PMI at a tenth-month high UK business activity growth remained sharp in July »

Latest from Editor

Popular

UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most…
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures…
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports…
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Menu

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.