Eurozone PMI

The latest round of S&P Global PMI Surveys of manufacturing and services sectors suggested on Friday that UK and Eurozone economies may already have entered recession in the third quarter of the year if analyst and economist readings of the data are anything to by. 

The Eurozone is entering recession according to the findings of a regular and much watched survey.

The Euro was sold on the release of German PMI data for July, which confirmed a sharper than expected economic slowdown is underway on the continent.

The Euro-Dollar exchange rate was looking higher from the recently reclaimed 1.22 level on Friday after IHS Markit PMI surveys suggested that key continental industries returned to growth in May, effectively firing the starting pistol on an economic recovery that some analysts see taking the single currency to 1.25 this summer.

The Euro-Dollar rate was attempting to pare back steep overnight declines on Wednesday after IHS Markit PMI surveys revealed a record increase in output from the manucaturing sector for this month, offering tentative hope that an economic stabilisation may not be far off. 

Europe's economy came close to stabilisation in the final month of a turbulent year, IHS Markit PMI surveys indicated on Wednesday, while expectations for the year ahead rose to their highests level for nearly three years in response to progress in the development of a coronavirus vaccine. 

There are two weeks of oxygen left in the European economic coal mine before the Eurozone’s final quarter rebound fades like a quieting canary, economists at Berenberg suggested Friday, after IHS Markit PMI surveys warned of an October collapse in the continent’s services sector. 

The Euro-to-Dollar rate was at risk of further losses on Wednesday after IHS Markit PMI surveys surprised on the downside for September and as some analysts cashed out of earlier bullish wagers on the single currency. 

UK retail sales surged in June while IHS Markit PMI surveys suggested that manufacturing and services companies operating in the troubled UK economy pulled ahead of the Eurozone rivals in July, although economists have cautioned that the retail data likely overstates the broader economic recovery.  

The Euro-to-Dollar rate built on earlier gains Tuesday after IHS Markit surveys pointed to a strong rebound in manufacturing and services activity for the month of June, although economists have urged caution, warning that the results give a misleading impression of conditions in the Eurozone economy. 

The Euro slumped broadly on Thursday after IHS Markit PMI surveys suggested strongly that Germany's manufacturing sector missed out on the first-quarter recovery in the Chinese economy, as the former's industrial recession appears to have deepened in April.

The Euro weakened notably on Friday after IHS Markit PMI surveys revealed a likely contraction in manufacturing output and a slowdown in service sector activity that has reinforced the negative outlook for the bloc's economy and single currency.

The Eurozone economic outlook darkened Thursday after IHS PMI data revealed that new orders from the bloc's factories fell at their fastest pace for nearly six years in January, stoking an earlier headache that was already threatening the growth and European Central Bank (ECB) interest rate outlook. 

The Pound-to-Euro rate stabilised Friday after IHS Markit PMI data for November pointed clearly toward a further loss of economic momentum for the bloc during the final quarter. 

The Euro fell to a two-month low Wednesday after IHS Markit PMI data revealed a deepening slowdown in the French and German industrial sectors during October, placing the outlook for GDP growth under a spotlight.

The Eurozone manufacturing PMI declined to 53.3 in September according to IHS Markit, the lowest level in 2 years.

The Euro turned lower against the US Dollar Thursday after ISH Markit surveys revealed a further slowdown in the Eurozone's mighty manufacturing sector during August, suggesting the continental economy is yet to rebound from the slowdown seen at the start of the year.

Data out of the Eurozone has comfortably beaten expectations and is helping the Euro exchange rate complex record an advance ahead of the weekend.

The outlook for the single currency took another blow after growth fears added to the already heavy burden of Italian political risks.

The Euro slipped during early trading Monday after surveys showed activity in the Eurozone's key manufacturing industry slowing by a touch during the April month, adding further weight to concerns about the loss of economic momentum in the currency bloc.