German Preliminary Manufacturing PMI declines to 42.6 in July vs. 44.0 expected
Source Fxstreet
- Germany’s Manufacturing PMI dropped to 42.6 in July vs. 44.0 anticipated.
- Services PMI for the German economy fell to 52.0 in July vs. 53.1 estimate.
- EUR/USD falls further below 1.0850 after downbeat German PMIs.
The German manufacturing sector contraction unexpectedly deteriorated in July while the services sector also underperformed, the preliminary business activity report published by the HCOB survey showed Wednesday.
The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse came in at 42.6 this month, deteriorating from June’s 43.5 while much below the forecast of 44.0.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Silver (XAG/USD) is rallying for the third consecutive day on Friday, with bulls testing July 15 highs of 38.40 at the time of writing.
ADA is now consolidating and might attempt a clear move above the $0.8650 zone.
On Friday, Asian stocks rose after U.S. markets hit new highs, supported by positive economic data and mixed corporate results.
The AUD/USD pair is building on the previous day's bounce from the vicinity of mid-0.6400s, or a three-and-a-half-week trough, and gaining strong follow-through positive traction on Friday.
The Pound Sterling (GBP) remains near an over two-month low around 1.3375 during the European trading session on Friday.
Related Instrument
