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On Thursday, S&P Global released preliminary October PMI numbers for major regions. The importance of this data increases over time and often influences market trends in Europe. European data was mixed, but currency markets noted stronger-than-expected numbers from Germany. In France, the service sector is experiencing a serious decline due to the boost from the Olympics. The service index fell from 49.6 to 48.3, the lowest level since the end of last year. On the other hand, the manufacturing PMI remains in contraction territory at 44.5, falling below 50 for the second consecutive month. The comprehensive index also fell to…

14:05 ▪ 3 Minimum read time up to ▪ Eddie S. The cryptocurrency market has experienced significant movement recently, especially with the notable rise in Bitcoin. Below are current trends, technical indicators, and on-chain indicators that provide insight into the dynamics affecting BTC price this week and the future prospects of the queen of cryptocurrencies. Is Bitcoin headed for a new bullish trend? Recently, Bitvavo published an in-depth analysis of the crypto market highlighting Bitcoin's recent performance. According to this analysis, the price of BTC experienced a significant increase of over 10%, rising from 57,500 euros to over 63,000 euros…

On Thursday, S&P Global released preliminary October PMI numbers for major regions. The importance of this data increases over time and often influences market trends in Europe. European data was mixed, but currency markets noted stronger-than-expected numbers from Germany. In France, the service sector is experiencing a serious decline due to the boost from the Olympics. The service index fell from 49.6 to 48.3, the lowest level since the end of last year. On the other hand, the manufacturing PMI remains in contraction territory at 44.5, falling below 50 for the second consecutive month. The comprehensive index also fell to…

Data on Thursday revealed business activity in the euro zone remained weak in October. The market has fully priced in the ECB's 25bp rate cut in December. The US PMI figures indicate the state of business activity. The outlook for EUR/USD tilts south despite a short-term rebound as data reveals weakness in business activity in the euro area. However, the currency pair rose slightly as the dollar weakened due to uncertainty surrounding the upcoming US presidential election. –Want to know more about Australian Forex Brokers? Check out our detailed guide – Data on Thursday revealed business activity in the euro…

On Thursday, S&P Global released preliminary October PMI numbers for major regions. The importance of this data increases over time and often influences market trends in Europe.European data was mixed, but currency markets noted stronger-than-expected numbers from Germany.In France, the service sector is experiencing a serious decline due to the boost from the Olympics. The service index fell from 49.6 to 48.3, the lowest level since the end of last year. On the other hand, the manufacturing PMI remains in contraction territory at 44.5, falling below 50 for the second consecutive month. The comprehensive index also fell to 47.3, the…

Denmark is considering a new tax regime for cryptocurrencies, including a tax on unrealized gains and losses, leading to some false reports that this decision has already been taken. Cryptocurrency news outlet AltcoinBuzz falsely reported that Denmark “made history by becoming the first country in the world to tax unrealized capital gains on cryptocurrencies.” Meanwhile, Coingape wrote that Denmark will “impose a 42% tax on unrealized capital gains on all crypto assets.” In fact, the Danish Tax Law Council has proposed three different tax models in a document it has been working on since 2021. None of these tax proposals…

PMI® survey data for October showed the euro area economy stalled for the second consecutive month as growth in the services economy further slowed as factory activity fell.A further deterioration in business confidence signals near-term downside risks, raising concerns about whether the economy can avoid a contraction in GDP in the fourth quarter. Concerns about the economic situation are causing companies to accelerate the pace of layoffs.Fortunately, price pressures continued to ease in October, with average sales price inflation cooling further to its lowest level since early 2021. Notably, cost pressures in the services sector, a key area of…

PMI® survey data for October showed the euro area economy stalled for the second consecutive month as growth in the services economy further slowed as factory activity fell.A further deterioration in business confidence signals near-term downside risks, raising concerns about whether the economy can avoid a contraction in GDP in the fourth quarter. Concerns about the economic situation are causing companies to accelerate the pace of layoffs.Fortunately, price pressures continued to ease in October, with average sales price inflation cooling further to its lowest level since early 2021. Notably, cost pressures in the services sector, a key area of…

Investing.com – European stock markets rose on Thursday as investors digested third-quarter corporate earnings and the latest regional economic activity data. As of 9:50 ET (13:50 GMT), German stocks were up 0.6%, French stocks were up 0.6% and British stocks were up 0.8%. Featured PMI Data released early Thursday showed business activity in the euro zone remained in contraction territory this month. Although there were some signs of hope. The preliminary HCOB index compiled by S&P Global rose to 49.7 in October from 49.6 in September, but remained below 50, the dividing line between growth and contraction, for the second…