Euro surges due to EU PMIs

Source: Dukascopy Bank SA


The European Union country Purchasing Managers Indices were released from 07:15 GMT up to 08:00 GMT. In general, the event caused a surge of the Euro. However, the move was stopped by the 1.0675/1.0690 range and the weekly R1 simple pivot point at 1.0695.

In general, the markets expected that the Manufacturing and Services sectors are doing badly. Although, it was revealed that the Services sector in the European countries is even expanding.

French Flash Manufacturing PMI was forecast to be 46.9. Actual number is 44.9. French Flash Services PMI forecast - 48.9. Actual numbers 50.5.

German Flash Manufacturing PMI was forecast to be 42.8. Actual number is 42.2. Flash Services PMI forecast - 50.6. Actual numbers 53.3.

Combined EU numbers are 45.6 for manufacturing and 52.9 for services. The forecasts were respectively 46.5 and 51.8.
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