German Preliminary Manufacturing PMI drops to 43.4 in June vs. 46.4 expected
Source Fxstreet
- Germany’s Manufacturing PMI dipped to 43.4 in June vs. 46.4 estimate.
- Services PMI for the German economy fell to 53.5 in June vs. 54.4 forecast.
- EUR/USD falls further below 1.0700 after weak German PMIs.
The German manufacturing sector contraction unexpectedly deepened in June while the services sector also lost its expansionary momentum, the preliminary business activity report published by the HCOB survey showed Friday.
The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse arrived at 43.4 this month, deteriorating from May’s 45.4 while much below the expected 46.4 readout.
more to come ...
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Metaplanet added another 797 BTC to its treasury.
Meme coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), are experiencing a decline as selling pressure builds in the broader cryptocurrency market.
Bitcoin market participants hold divided views for short-term price action, with targets ranging vastly between $150,000 and a potential drop back to $70,000.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Related Instrument
