PREVIOUS TRADING DAY EVENTS 06 Nov 2023

The Eurozone business activity downturn accelerated last month due to demand weakness. The PMI data are suggesting a growing chance of a recession in the 20country currency union. The economy contracted by 0.1 in the third quarter as per the PMI survey.

Final PMIs released today confirmed the preliminary estimates and are consistent with our forecast that eurozone GDP will contract again in Q4, said Adrian Prettejohn at Capital Economics. The outlook also looks very weak, with the new orders PMI falling to its lowest level since September 2012, excluding the early pandemic months, while exports were also particularly weak.

Services activity in Germany, Europes largest economy, slipped back into contraction in October, while in France it shrank again. Italian services activity contracted for a third month running and at its fastest pace in a year.

Source httpswww.reuters.commarketseuropeeurozoneeconomystartedq4backfootstokingrecessionfearspmi20231106

Winners and Losers

The NZDUSD is on top with almost 1.94 gains for the week and 1.88 for the month. GBP follows with 1.62. The dollar still has not regained ground.

News Reports Monitor Previous Trading Day 06 Nov 2023

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Midnight Night Session Asian

No important news announcements, no special scheduled figure releases.

MorningDay Session European and N. American Session

PMI releases for the services sector in the…