Breaking: EUR/USD jumps to 1.1085 as German Preliminary Manufacturing PMI surprises positively with 43.8


  • German Manufacturing PMI arrives at 43.8 in November vs. 42.9 expected.
  • German Services PMI arrives at 51.3 in November vs. 51.6 expected.

The German manufacturing sector contraction slowed in November, the preliminary manufacturing activity report from IHS/Markit research showed this Friday.

The German Manufacturing purchasing managers index (PMI) arrived at 43.8 versus 42.9 expected and 42.1 previous, hitting five-month highs.

Meanwhile, services PMI hit a 38-month low level of 51.3 as against previous months reading of 52.0 and 51.6 anticipated.

The IHS Markit Flash Germany Composite Output Index came in at three-month highs of 49.2 in November vs. October’s 48.9 and 49.4 expectations. 

Key comments from Phil Smith, Principal Economist at IHS Markit:

“Beneath the subdued headline numbers the data show another slight convergence between the more domestically-focussed service sector and export-led manufacturing.”

“While still showing a degree of resilience, the service sector is growing only modestly and at its slowest rate for over three years. By contrast, manufacturing remains firmly in contraction, but many of the indicators here are at least moving in the right direction and it would seem the worst of the downturn is over barring any shocks.”

On mixed German PMI numbers, the EUR/USD pair popped to 1.1085 highs before reverting to the familiar region around 1.1070 levels.

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.

Feed news

Take advantage of market volatility with our daily Forex, Crypto and Indices Trade Ideas!

Become Premium!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD holds on to weekly gains, aims to 1.2100

EUR/USD pressures this week high at 1.2079 after the EU services sector moved back into expansion territory according to Markit, the first time since August.

EUR/USD News

GBP/USD extends decline towards the 1.3800 price zone

Upbeat UK data fell short of boosting the pound, hurt by Brexit jitters in Ireland. US macroeconomic figures making the difference in the dollar’s favor.

GBP/USD News

Bitcoin, Ethereum and XRP plummet, breaching critical support levels

Bitcoin price has dropped 12.7% since yesterday and shows no signs of stopping. Ethereum price follows the pioneer crypto’s lead and might retest $2,000 again. Unlike BTC or ETH, XRP price shows signs of recovery as long as it stays above a critical demand zone.

Read more

XAU/USD drops below $1,780 area as US T-bond yields rebound

Gold lost its traction after climbing toward $1,800 on Friday. 10-year US Treasury bond yield is up nearly 2%. Latest PMI data from US underlined strong price pressures.

Gold News

Bionano Genomics Inc runs into technical resistance, put options may work here

BNGO shares have continued to suffer post the retail meme crowd moving on. BNGO shares bounce from lows as DeMark buy signal flashes on Monday. BNGO shares trend up to resistance at 100 day moving average.

Read more

Forex MAJORS

Cryptocurrencies

Signatures