Euro Dips as Manufacturing & Services PMI Disappoints!

Posted Wednesday, October 24, 2018 by
Arslan Butt • 1 min read

Fellas, the single currency has dipped more than 30 pips after the series of manufacturing and services PMI figures disappoint the market. Let’s take a quick look at the economic figures:

Negative Impact

German Flash Manufacturing PMI – Fell to 52.3 vs. 53.4

German Flash Services PMI – Fell to 53.6 vs. 55.5

Flash Manufacturing PMI – Fell to 52.1 vs. 53

Flash Services PMI – Fell to 53.3 vs. 54.5

French Flash Manufacturing PMI – Fell to 51.2 vs. 52.4

Positive Impact

French Flash Services PMI – Improved to 55.6 vs 54.7

Thus, the EUR/USD is trading bearish at $1.14300 and it may continue trading bearish until $1.1375 today.

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About the author

Arslan Butt is our Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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