EUR & Equities under pressure following weak PMI data
|EURUSD, H4
A weak set of PMI’s from Germany and France was followed by misses fro the EUR wide PMI’s. Flash Manufacturing PMI came in at 55.5 a miss of 0.6 from expectations of 56.1 and 0.7 from last time. Flash Services PMI was also a miss moving down more significantly from 54.7 last time to 53.9, expectations were for a no change to the 54.7 reading. These key readings confirm the veiw of a slowing in Q1 moving into Q2 too. The European equity markets and the EUR continued to sell off on the news. They were led by Eurozone peripherals amid a general bout of risk aversion and after German and French PMI readings that show now sign of the expected recovery in sentiment. The DAX is down -1.115, the MIB down -1.25%. The FTSE 100 manages to outperform slightly, but is also down -0.56% on the day with the Euro Stoxx 50 down -0.98%. EURGBP spiked down to 0.8738, EURJPY slid further to 128.46 and EURUSD spiked below 1.1700.
There's more! Access all our latest analyses and other great content by subscribing to the HotForex Youtube channel. You can also talk to our experts live by registering for one of our free webinars!
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.