Euro Dips as Manufacturing & Services PMI Disappoints!
Arslan Butt•Wednesday, October 24, 2018•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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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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