The Purchasing Managers’ Index (EMI) Germany for the month of October, which will be published tomorrow, promises positive news for the German economy.
An overall index value of 46.7 was forecast, following the previous value of 46.4 in September.
An expected increase of 0.3 points in the EMI would indicate that German manufacturers in October, despite the economic challenges,
such as still relatively high inflation and especially high interest rates, have expanded more strongly than expected.
Despite the expectation of positive figures, the Dax has lost more than 0.5% so far, continuing last week’s negative performance,
in which the US stock markets also recorded significant price losses.
The leading index now stands at around 14713 points. The euro, on the other hand, showed some strength again today over the trading day and
rose against the US dollar by almost 0.2% to US$1.0610.
A strong EMI tomorrow (Tuesday) could ensure an optimistic attitude of investors in the markets and give the euro some upward momentum,
while the Dax could possibly interrupt its downward movement in the short term.
A negative value, on the other hand, could further depress the Dax rate and cause the euro to weaken again.
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