BREAKING: PMI reports from Europe better than expected 📈

08:15 AM BST, Spain - PMI Data for October:

• HCOB Spain Manufacturing PMI: actual 54.5; forecast 53.1; previous 53.0;

08:45 AM BST, Italy - PMI Data for October:

• HCOB Italy Manufacturing PMI: actual 46.9; forecast 48.8; previous 48.3;

08:50 AM BST, France - PMI Data for October:

• HCOB France Manufacturing PMI: actual 44.5; forecast 44.5; previous 44.6;

08:55 AM BST, Germany - PMI Data for October:

• HCOB Germany Manufacturing PMI: actual 43.0; forecast 42.6; previous 40.6;

09:00 AM BST, Euro Zone - PMI Data for October:

• HCOB Eurozone Manufacturing PMI: actual 46.0; forecast 45.9; previous 45.0;

PMI reports performed better almost everywhere. The exception is Italy. However, we are still mostly seeing PMI indexes for industry below 50, which means a further contractation in the sector. Only in Spain PMI readings point to expansion.

Generally, PMI publications were received positively although the market reaction is limited, with EURUSD gaining 0.15% today despite the relative weakness of the EUR. The market attention is dominated by a much weaker dollar and the upcoming US elections.