German Preliminary Manufacturing PMI improves to 49.2 in July vs. 49.4 expected
- Germany’s Manufacturing PMI advanced to 49.2 in July vs. 49.4 anticipated.
- Services PMI for the German economy climbed to 50.1 in July vs. 50 forecast.
- EUR/USD keeps the red near 1.1770 after mixed German PMIs.
The German manufacturing sector contraction eased in July while the services sector returned to expansion, the preliminary business activity report published by the HCOB survey showed on Thursday.
The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse rose to 49.2 in July, as against June’s 49, missing the market forecast of 49.4. The measure hit a 36-month high.
Meanwhile, Services PMI advanced to 50.1 in July from 49.7 in June. The market expectations were for 50 in the reported period. The gauge reached a four-month top.
The HCOB Preliminary German Composite Output Index came in at 50.3 in July vs. 50.4 in June and 50.7 expected. The index was at its lowest level in two months.
FX implications
EUR/USD remains in the red after the mixed German data, down 0.08% on the day at 1.1765 at the time of writing.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.04% | 0.13% | -0.13% | 0.08% | -0.18% | -0.04% | 0.03% | |
| EUR | -0.04% | 0.10% | -0.19% | 0.07% | -0.21% | -0.07% | -0.00% | |
| GBP | -0.13% | -0.10% | -0.30% | -0.04% | -0.32% | -0.21% | -0.10% | |
| JPY | 0.13% | 0.19% | 0.30% | 0.22% | -0.04% | 0.05% | 0.05% | |
| CAD | -0.08% | -0.07% | 0.04% | -0.22% | -0.24% | -0.14% | -0.06% | |
| AUD | 0.18% | 0.21% | 0.32% | 0.04% | 0.24% | 0.14% | 0.22% | |
| NZD | 0.04% | 0.07% | 0.21% | -0.05% | 0.14% | -0.14% | 0.08% | |
| CHF | -0.03% | 0.00% | 0.10% | -0.05% | 0.06% | -0.22% | -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 US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (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.
