Eurozone Preliminary Manufacturing PMI declines to 45.5 in April vs. 48.0 expected
|- Eurozone Manufacturing PMI arrives at 45.5 in April vs. 48.0 expected.
- Bloc’s Services PMI climbs to 56.6 in April vs. 54.5 expected.
- EUR/USD recovers ground above 1.0950 despite the mixed Eurozone PMIs.
The Eurozone manufacturing sector activity unexpectedly contracted further in April, the latest manufacturing activity survey from S&P Global research showed on Friday.
The Eurozone Manufacturing Purchasing Managers Index (PMI) arrived at 45.5 in April vs. 48.0 expected and 47.3 previous. The index reached a 35-month low.
The bloc’s Services PMI advanced to 56.6 in April vs. 54.5 forecasts and March’s 55.0, hitting a 12-month high.
The S&P Global Eurozone PMI Composite jumped to 54.4 in April vs. 53.7 expected and 53.7 previous. The measure recorded a new 11-month high.
FX implications
EUR/USD erases losses to trade at 1.0965 following the release of the mixed Eurozone PMIs.
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