The index Markit’s services PMI for the Eurozone has receded into contraction territory in November, falling to 47.6 points from 51.4 in October, although it improves the 45.8 expected by the market.
This is the worst figure recorded by the indicator in five months, and reflects the effect of the numerous confinements that occurred in different countries of the euro zone during the month of November.
The Germany Services PMImeanwhile, it has plummeted to 46 points from the previous 49.5, worsening the 46 estimates. The figure marks the worst result since last May.
EUR / USD reaction
The poor PMI figures for services in the Eurozone and its main countries have caused a decline in the EUR/USD after having reached new highs since spring 2018 at 1.2139. The pair has fallen with the posts to the 1.2100 zone and is trading at time of writing above 1.2104, gaining just 0.02% on the day.
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