Quick Updates: European Purchasing Manager Index Figures Released
Arslan Butt • 1 min read
The EUR/USD trades at 1.1362, down by -0.07% as Eurozone PMI figures remained mixed.
- Spanish Manufacturing PMI – Fell to 49.9 vs. 51.8
- Italian Manufacturing PMI – Came out better than expected at 47.7 vs 47.1 forecast.
- French Final Manufacturing PMI – Rose slightly to 51.5 vs. 51.4.
- German Final Manufacturing PMI – Steady at 47.6
- Final Manufacturing PMI – Rose slightly to 49.3 vs. 49.2
Summing up – Most economic events are below the 50 threshold which represent weaker economic growth. As a result, the single currency Euro is getting weaker as investors will be expecting ECB to keep the interest rates on hold.