Market Updates: French Manufacturing & Services PMI are Out – Euro Slips 30 Pips

The Markit just released French Manufacturing & Services PMI data which triggered a sharp sell-off in the EUR/USD.

French Manufacturing PMI reached 51.2, crossing above a minimum threshold of level 50. But the French Services PMI dipped to 47.9, overshadowing a positive manufacturing number.

The Markit Flash France Composite Output Index fell from 48.7 to 47.9 in December, pointing a strong contraction in the French private sector output. Recalling our morning brief, the Eurozone economies are already under a threat of insolvency. Every fresh negative release widens this threat.

What’s Next?

• Flash Manufacturing PMI at 9:00 (GMT)
• Flash Services PMI at 9:00 (GMT)