2013.10.2403:57:00UTC+00Euro Strengthens Ahead Of Euro-area PMI Data

Purchasing Managers' Indexes from the major eurozone economies are due out shortly in the European session, beginning with that of France, of which the manufacturing PMI is expected to expand 50.1 in October following 49.8 prior month and services PMI is predicted to grow 51.3 in the month from 51.0 in September.

At 3:30 am ET, German PMI is due. Manufacturing PMI is predicted to grow 51.4 in October from 51.1 in the previous month. Services PMI is expected to remain unchanged from last month at 53.7.

Eurozone PMI is due out at 4:00 am ET. Composite PMI is predicted to improve to 52.4 from 52.2 in September. Eurozone's manufacturing PMI is expected to grow 51.4 from 51.1 in September, while the services PMI is predicted to remain unchanged at 52.2 in the month of October.

The euro edged higher against its major counterparts ahead of the data. As of 2:55 am ET, the common currency was trading at 1.3814 against the US dollar, 134.62 against the yen, 0.8522 against the pound and 1.2309 against the Swiss franc.