Market Updates: Euro Weakens Over Series of Disappointing PMI Numbers!

At 49.3 in December, the IHS Markit Flash France Composite Output Index fell markedly from 54.2 in November. Looks like the ongoing protests have started impacting the market. The largest impact was seen in the services sector, as businesses reported the first contraction in activity since June 2016.

French Flash Manufacturing PMI – Fell from 50.8 to 49.7

French Flash Services PMI – Slipped from 55.1 to 59.6

German Flash Manufacturing PMI – Fell from 51.8 to 51.5

German Flash Services PMI – Down from 53.3 to 52.5

The EUR/USD is falling dramatically to trade at $1.1290. The pair can find next support at $1.1265 now.