Both PMIs in Germany slide, but less than expected, so this is actually good news: manufacturing is at 52, services at 56.4 points.
EUR/USD is now moving to 1.3270, ticking up from lower levels, and extending the recovery from the deep lows.
Germany’s manufacturing PMI was expected to slide from 52.4 to 51.8 points in August. The services PMI was predicted to fall from the strong 56.7 point level to 55.5 points now in August. These are preliminary numbers.
EUR/USD traded just under 1.3260 towards the publication, off the lows.
Earlier, French PMIs came out mixed, with a clear distinction between the weak manufacturing sector and the improving services one. The all-European PMI is released at 8:00 GMT.
Afterwards we have some important data from the US: See how to trade the US jobless claims with EUR/USD.
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