German Preliminary Manufacturing PMI rises to 49 in June as expected
- Germany’s Manufacturing PMI rose to 49 in June vs. 49 forecast.
- Services PMI for the German economy improved to 49.4 in June vs. 47.5 estimate.
- EUR/USD keeps the red near 1.1500 after mixed German PMIs.
The German manufacturing and services sectors contraction eased in June, the preliminary business activity report published by the HCOB survey showed on Monday.
The HCOB Manufacturing PMI in the Eurozone’s top economy improved to 49 this month, compared with May’s 48.3, aligning with the expected 49 reading. The index hit a 34-month high.
Meanwhile, Services PMI jumped to 49.4 in June from 47.1 in May. The market forecast was for 47.5 in the reported period. The measure reached a three-month peak.
The HCOB Preliminary German Composite Output Index stood at 50.4 in June vs. 48.5 in May and 49 expected. The gauge was at its highest level in three months.
FX implications
EUR/USD keeps the offered tone intact after the mixed German data, down 0.18% on the day at 1.1500 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 British Pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.36% | -0.28% | 0.29% | 0.02% | 0.09% | 0.28% | -0.02% | |
| EUR | 0.36% | 0.05% | 0.71% | 0.39% | 0.41% | 0.65% | 0.31% | |
| GBP | 0.28% | -0.05% | 0.69% | 0.34% | 0.36% | 0.60% | 0.26% | |
| JPY | -0.29% | -0.71% | -0.69% | -0.31% | -0.25% | 0.03% | -0.40% | |
| CAD | -0.02% | -0.39% | -0.34% | 0.31% | 0.11% | 0.26% | -0.08% | |
| AUD | -0.09% | -0.41% | -0.36% | 0.25% | -0.11% | 0.22% | -0.10% | |
| NZD | -0.28% | -0.65% | -0.60% | -0.03% | -0.26% | -0.22% | -0.34% | |
| CHF | 0.02% | -0.31% | -0.26% | 0.40% | 0.08% | 0.10% | 0.34% |
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.
