Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Euro Area’s manufacturing sector activity continued to shrink in April, data by S&P Global showed.

The HCOB Eurozone Manufacturing PMI dropped to 45.6 in April, a preliminary estimate showed, from 46.1 in March. April’s PMI reading has been the lowest since December 2023.

In comparison, market consensus had pointed to an improvement to 46.5.

Still, production shrank at the slowest pace in a year, job losses eased, while manufacturing input prices continued to plummet as supply conditions improved.

However, new business and order backlogs continued to shrink at a rapid pace in April.

Meanwhile, Euro Area’s services sector registered the sharpest expansion since May 2023 in April.

The HCOB Eurozone Services PMI came in at a preliminary reading of 52.9 in April, up from 51.5 in March.

New orders grew the most since May last year, while registering expansion for a second straight month.

Employment in the sector grew the most since June last year.

The Euro was little changed on the day against the US Dollar, with the EUR/USD currency pair last trading at 1.0663.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: EUR/CAD daily forecastForex Market: EUR/CAD daily forecast During yesterday’s trading session EUR/CAD traded within the range of 1.4782-1.4828 and closed at 1.4801.At 6:55 GMT today EUR/CAD was losing 0.04% for the day to trade at 1.4803. The pair touched a daily low at 1.4784 at 5:40 GMT, […]
  • AUD/USD hovers above 9 1/2-month low ahead of Jackson Hole symposiumAUD/USD hovers above 9 1/2-month low ahead of Jackson Hole symposium The Australian Dollar steadied against its US counterpart on Monday, being not far from last week's 9 1/2-month low, as market players looked to the Federal Reserve's Jackson Hole symposium for interest rate guidance.The Aussie […]
  • Forex Market: EUR/NOK daily trading forecastForex Market: EUR/NOK daily trading forecast Yesterday’s trade saw EUR/NOK within the range of 8.4391-8.4932. The pair closed at 8.4537, losing 0.26% on a daily basis.At 7:41 GMT today EUR/NOK was down 0.41% for the day to trade at 8.4229. The pair broke the first key daily support […]
  • Provident Financial announces new CFO appointmentProvident Financial announces new CFO appointment Provident Financial Holdings Inc, the holding company of Provident Savings Bank F.S.B., said on Friday that it had appointed Tam Nguyen as its next Senior Vice President, Chief Financial Officer and Corporate Secretary, effective January […]
  • Forex Market: USD/JPY daily trading forecastForex Market: USD/JPY daily trading forecast Yesterday’s trade saw USD/JPY within the range of 116.46-122.04. The pair closed at 118.42, plummeting 2.72% on a daily basis, or the most considerable daily loss since June 11th 2013, when it depreciated 2.77%. The daily low has also been the […]
  • USD/SEK hovers above 2-week low, eyes on Fed, RiksbankUSD/SEK hovers above 2-week low, eyes on Fed, Riksbank The USD/SEK currency pair hovered above a fresh 2-week low of 9.5361 on Wednesday ahead of the outcome of the Federal Reserve’s and Sweden’s Riksbank policy meetings.The Fed is widely expected to leave its federal funds rate target range […]