Eurozone Preliminary Manufacturing PMI steadies at 44.2 in December vs. 44.6 expected

Eurozone Manufacturing PMI stayed unchanged at 44.2 in December, missing estimates of 44.6.
Bloc’s Services PMI declined to 48.1 in December vs. 49.0 forecast.
EUR/USD keeps losses near 1.0950 after German, Eurozone PMI reports.

Dhwani Mehta FXStreet

The Eurozone manufacturing sector contraction stalled but the services sector’s deepened in December, the latest figures from the HCOB's latest purchasing managers index survey showed Friday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) arrived at 44.2 in December when compared to the anticipated reading of 44.6 and matching the 44.2 registered in November. The index remained at a six-month high.

The bloc’s Services PMI dropped to 48.1 in December from 48.7 in November, hitting a two-month low while missing the 49.0 forecast.

The HCOB Eurozone PMI Composite fell to 47.0 in December vs. 48.0 expected and November’s 47.6 readout. The index touched a two-month trough.

(This story is corrected on Dec 15 at 09:40 GMT to say that "Eurozone Manufacturing PMI stayed unchanged at 44.2 in December, missing estimates of 44.6," not beating)

FX implications

EUR/USD is consolidating the latest downtick to near 1.0950 after dismal Eurozone PMIs. The spot is down 0.33% on the day, as of writing.

Euro price this week

The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the US Dollar.

	USD	EUR	GBP	CAD	AUD	JPY	NZD	CHF
USD		-1.78%	-1.56%	-1.55%	-2.08%	-2.34%	-1.58%	-1.50%
EUR	1.74%		0.21%	0.21%	-0.30%	-0.56%	0.19%	0.27%
GBP	1.56%	-0.21%		0.02%	-0.49%	-0.75%	0.00%	0.08%
CAD	1.53%	-0.23%	-0.01%		-0.51%	-0.77%	-0.02%	0.06%
AUD	2.04%	0.30%	0.50%	0.51%		-0.26%	0.49%	0.57%
JPY	2.29%	0.53%	0.67%	0.77%	0.27%		0.72%	0.82%
NZD	1.55%	-0.21%	0.01%	0.02%	-0.50%	-0.76%		0.07%
CHF	1.47%	-0.30%	-0.07%	-0.06%	-0.57%	-0.83%	-0.08%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).

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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