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.

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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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