Euro Area’s PMI
The euro area will release manufacturing and services PMI at 10:00 MT time on August 22.
PMI or Purchasing Managers Indexes come from surveys of purchasing managers in manufacturing and services industries. These indicators provide the data for the current month. In other words, PMIs give the most up-to-date information about the euro area’s economic health.
A reading above 50.0 indicates industry expansion, below indicates contraction. The higher the reading, the better for the euro. This release will be important for EUR/USD and other pairs with the single currency.
