Just a few hours ago, Markit Economics released their latest manufacturing index for Europe (as well as for individual European nations).
The index hit a seven month low, falling to 55.1 in August from 56.7 in July. While it beat expectations, it did so by 0.1, which is a rounding error.
The euro has surged since then… which goes to show just how negative expectations for the euro are these days. Expectatons are low, to say the least.