Markit Economics has published statistics on the change in business activity for the industry in the eurozone and the United States. The European PMI in September fell to 58.6 points, and the American PMI also fell, but its value was 60.7 points. If in the summer Europe was ahead of the United States, then at the beginning of autumn the trend changed and now the Europeans are in the role of catch-up.

This is a negative signal for EURUSD, however, the rise in gold quotes may limit the decline in the euro, inasmuch as assets have historically been highly correlated. The euro and gold have traditionally been the two main competitors of the dollar.

Trading recommendation: flat 1.1555 – 1.1650.