German Preliminary Manufacturing PMI jumps to 45.4 in May vs. 43.1 expected
The German manufacturing sector’s pace of contraction slowed in May while the services sector outperformed, the preliminary business activity report published by the HCOB survey showed Thursday.
The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse came in at 45.4 this month, improving from April’s 42.5 while much above the expected 43.1 print. The index climbed to the highest level in four months.
Meanwhile, Services PMI rose from 53.2 in April to 53.9 in May, above the market consensus of 53.5 in the reported period. The measure hit an 11-month peak.
The HCOB Preliminary German Composite Output Index stood at 52.2 in May vs. 51.0 expected and 50.6 recorded in April. The gauge clinched a yearly high.
FX implications
EUR/USD has bounced off intraday lows on the strong German data, currently trading 0.07% higher on the day at 1.0830.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.05% | -0.09% | -0.09% | -0.11% | -0.04% | -0.20% | -0.13% | |
| EUR | 0.05% | -0.04% | -0.03% | -0.06% | 0.00% | -0.17% | -0.08% | |
| GBP | 0.09% | 0.04% | 0.02% | -0.02% | 0.05% | -0.12% | -0.04% | |
| JPY | 0.09% | 0.03% | -0.02% | -0.02% | 0.04% | -0.18% | -0.05% | |
| CAD | 0.11% | 0.06% | 0.02% | 0.02% | 0.07% | -0.09% | -0.03% | |
| AUD | 0.04% | -0.01% | -0.05% | -0.04% | -0.07% | -0.16% | -0.11% | |
| NZD | 0.20% | 0.17% | 0.12% | 0.18% | 0.09% | 0.16% | 0.07% | |
| CHF | 0.13% | 0.08% | 0.04% | 0.05% | 0.03% | 0.11% | -0.07% |
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.
