Latest data released by Markit/ADACI - 2 May 2019
- Prior 47.4
Factory activity in Italy continues to shrink but the positive of the report here is that it is shrinking at a slower pace at least with the headline reading improving from March. It feeds into the rhetoric that there are some green shoots in the euro area economy but any potential rebound shouldn't be a given just yet.
EUR/USD is inching higher to 1.1213 now as the dollar remains softer in European morning trade. EUR/GBP is brought lower to 0.8575 as the pound continues its good form this week in trading today.