German PMIs beat expectations – EUR/USD advances

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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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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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