Euroarea’s PMIs likely to have declined slightly in November

Euro area’s PMIs are expected to have slowed marginally in the month of November, after recording strong figures in the prior month. German PMI figures are likely to have come in weak during this time, but the headline composite number for the euro area as a whole, is anticipated to have dropped by just one tick as France’s services figure is expected to come in stronger, noted Societe Generale in a research report.

In all, euro area’s composite PMI figure is expected to have come in at 53.2, which would be in line with GDP growth of just below 0.4 percent sequentially in the fourth quarter of 2016, added Societe Generale.

At 12:05 GMT, the EUR/USD pair is trading at 1.0623. Meanwhile, at 12:00 GMT, the FxWirePro's Hourly Strength Index of Euro was neutral at -47.1218, while the FxWirePro's Hourly Strength Index of USD was neutral at -28.727. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex