The Markit’s manufacturing PMI for the euro zone has improved one tenth in November, rising to 58.4 since October 58.3, its best result in two months and its first rebound since June after several months of continuous setbacks. Despite the improvement, the indicator is below the 58.6 points expected by the market.
According to the IHS Markit statement, growth in the manufacturing sector broadly stabilizes during November as factories battle harsh supply-side winds.
Buying stocks increase at the strongest rate on record as companies build safety stocks. The Producer price inflation hits a new record, while supplier performance rapidly deteriorates once again.
EUR / USD reaction
The EUR / USD has reacted higher with the data, growing more than 15 pips to the 1.1324 zone. At time of writing, the pair is trading above 1.1322, losing 0.17% daily.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
