Eurozone Preliminary Manufacturing PMI falls to 43.6 in June vs. 44.8 expected

Eurozone Manufacturing PMI arrives at 43.6 in June, below expectations of 44.8.
Bloc’s Services PMI drops to 52.4 in June vs. 54.5 expected.
EUR/USD keeps losses near 1.0870 amid disappointing German and Eurozone PMIs.

Dhwani Mehta FXStreet

The Eurozone manufacturing sector activity unexpectedly worsened in June, the latest data from HCOB's latest purchasing managers index survey showed Friday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) arrived at 43.6 in June, compared with the 44.8 expected by markets and below the 44.8 seen in May. The index reached a 37-month low.

The bloc’s Services PMI also dropped to 52.4 in June from 55.1 in May, hitting a five-month low, arriving below the 54.5 estimates.

The HCOB Eurozone PMI Composite eased to 50.3 in June vs. 52.5 expected and 52.8 previous. The index dropped to a five-month low.

FX implications

EUR/USD keeps losses near 1.0870 following the release of the below estimates Eurozone PMIs. The spot is down 0.80% on the day.

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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