October 2017 Markit services PMI 06 November 2017

  • Eurozone 55.0 vs 54.9 exp Prior 54.9
  • Employment 54.2 vs 54.3 flash. Sep 53.7
  • Composite 56.0 vs 55.9 exp. Prior 55.9
  • Output prices 53.1 vs 53.3 flash. Sep 52.7. Seven month high
  • Germany 54.7 vs 55.2 exp Prior 55.2
  • Composite 56.6 vs 56.9 exp. Prior 56.9
  • France 57.3 vs 57.4 exp Prior 57.4
  • Composite 57.4 v s57.5 exp. Prior 57.5
  • Italy services 52.1 vs 53.0 expPrior 53.2
  • New orders 52.1 vs 53.2 prior
  • Composite 53.9 vs 54.3 exp. Prior 54.3
  • Spain Services 55.5 vs 54.6 exp. Prior 56.7

One thime that sticks out is that inflationary pressures are still in place.

From the Eurozone report, Chirs Williamson of Markit said;

“The eurozone growth spurt retained strong momentum at the start of the fourth quarter. The October headline PMI reading matched the average seen in the third quarter and puts the region on
course for another 0.6-0.7% expansion in the closing quarter of 2017. With new business growth ticking higher, November should also prove a good month for business activity. “Inflationary pressures have meanwhile lifted higher, with prices charges for goods and services rising at a rate not beaten for over six years. Some price rises merely reflect the pass-through of higher
costs, but companies are also reporting stronger pricing power as demand conditions continue to improve, which suggests underlying inflationary pressures are becoming more engrained.”

Also out earlier;

  • German Sep 2017 industrial orders 1.0% vs -1.5% exp m/m. Prior 3.6%. Revised to 4.1%

EURUSD has done nothing through all this at 1.1612.

 

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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