"The euro was relatively stable on Monday, edging slightly lower against the US dollar amid renewed greenback strength but holding steady versus other major peers. Investors reacted cautiously to the latest set of manufacturing PMI data, which showed signs of stabilization across the euro area. The HCOB Eurozone Manufacturing PMI rose to 50.0 in October from 49.8 in September, marking a two-month high and signalling a potential return to expansion."
"Output continued to grow modestly, supported by ongoing inventory reductions, while input costs remained unchanged and selling prices increased slightly. However, employment declined and new orders stagnated, suggesting underlying demand remains fragile. Germany's manufacturing PMI improved slightly to 49.6 from 49.5, driven by modest gains in output and new orders, though business expectations fell to their lowest level this year. In France, the index climbed to 48.8, beating forecasts but remaining in contraction territory as firms continued to cut prices and reduce output amid subdued demand and growing competitive pressures."
Euro was relatively stable on Monday, edging slightly lower against the US dollar amid renewed greenback strength while holding steady versus other major peers. The HCOB Eurozone Manufacturing PMI rose to 50.0 in October from 49.8 in September, marking a two-month high and signalling a potential return to expansion. Output grew modestly, supported by inventory reductions, while input costs were unchanged and selling prices increased slightly. Employment declined and new orders stagnated, indicating fragile underlying demand. Germany's PMI edged to 49.6 with business expectations falling; France's PMI rose to 48.8 but remained in contraction. Key data releases and an ECB speech could increase market volatility, while German 10-year yields were near 2.64%.
Read at London Business News | Londonlovesbusiness.com
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