The euro starts the week down against the pound today but stronger against the dollar.
Lots of S&P global manufacturing PMI data from the eurozone this morning (including Spain, Italy, France, and Germany). The eurozone manufacturing PMI final reading for September will be released at 9am UK time, and is expected to fall to 48.5 this morning , remaining unchanged from September’s preliminary reading. The latest manufacturing PMI data showed the third consecutive contraction in factory activity – one of the main reasons for this was soaring eurozone energy prices which limited output capabilities.
Tomorrow Spain’s unemployment data will be released. In August, the number of people registered as unemployed in Spain rose by 40,428 to 2.92 million. This was the highest unemployment level since February 2021. Tomorrow, markets are expecting the unemployment number to rise by a little less at 31,000.
