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

French Manufacturing PMI reached 51.2, crossing above a minimum threshold of level 50. Euro slips more than 30 pips in seconds.

Written by: Arslan Butt • Thursday, January 24, 2019 • 1 min read

• Last updated: Thursday, January 24, 2019

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)

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Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

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.