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.

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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