BREAKING: Final eurozone manufacturing PMI slightly higher than expected 📊 EURCHF gains 0.2%

Today, final European manufacturing PMIs came in mostly stronger than expected, while the biggest 'gap' between analysts expectations and final reading was in Switzerland, where industrial PMI jumped to more than 49 vs 43.8 exp. and 43.5 previously, supporting the Swiss franc. However, EURCHF gains today 0.1% as European final PMIs readings came in better than expected (except of Spain). A scale of positive surprise in Germany is quite low.

• 8:15 AM BST, Spain, final manufacturing PMI for August. 50.8 Expected 51.6 Previously. 51

• 8:30 AM BST, Switzerland, final manufacturing PMI for August. 49 Expected 43.8 Previously. 43.4

• 8:45 AM BST Italy, final manufacturing PMI for August. 49.4 Expected 48.5 Previously. 47.4

• 8:50 AM BST, France, final manufacturing PMI for August. 43.9 Expected. 44 Previously. 42.1

• 8:55 AM BST Germany, final manufacturing PMI for August. 42.4 Expected 43.2 Previously. 42.1

• 09:00 AM BST, Eurozone, final manufacturing PMI for August. 45.8 Expected. 45.6 Previously: 45.6

EURCHF (D1)

The pair gains today more than 0.1% (despite strong upside surprise in Swiss PMI); probably oversold conditions ahead of today PMIs reports and positive (but not big) surprises across the eurozone manufacturing PMIs, supported the move to the upside.

Source: xStation5