Lower numbers than forecast tend to be bullish for xxx/EUR pairs and bearish for EUR/xxx pairs.
The typical/expected impact on EUR pairs is medium.
The consensus forecast for S&P Global Services PMI is 54.1. A higher value than forecast tends to be bullish for EUR/xxx pairs and bearish for xxx/EUR pairs.
The most recent announced value for S&P Global Services PMI was 53.1 against a forecast of 53.8.
Recent economic data has been moderately bullish for EUR. Other recent announcements which may affect the market's interpretation of the next S&P Global Services PMI result:
Previous | Latest | ||||
---|---|---|---|---|---|
Unemployment Change | Bearish change | 7K | 10K | ||
Unemployment Rate s.a. | (no change) | 6.1% | 6.1% | ||
HCOB Manufacturing PMI | (no change) | 42.5 | 42.5 | ||
HCOB Manufacturing PMI | Bullish change | 44.5 | 46.2 | ||
HCOB Manufacturing PMI | Bullish change | 53.1 | 53.3 | ||
Harmonized Index of Consumer Prices (YoY) | Bullish change | 2.4% | 2.8% | ||
Gross Domestic Product (QoQ) | (no change) | 0.8% | 0.8% |
Country: | Spain |
---|---|
Currency: | EUR |
Source: | IHS Markit |
Category: | Economic Activity |
Frequency: | Monthly |