Flash PMI indices for April from France and Germany were released this morning at 8:15 am BST and 8:30 am BST, respectively. Reports were expected to show an improvement in both sectors - manufacturing and services - compared to a month ago.
French report turned out to be mixed - manufacturing index unexpectedly slumped while services index improved more than expected. A point to note is that services index climbed above 50 pts threshold, signalling that the sector was in expansion. It seems to have outweighed the miss in manufacturing data, with EUR jumping on the report.
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile appWhen it comes to German print, we saw a similar theme - manufacturing index missed expectations while services index beat expectations by a huge margin.
France, flash PMIs for April
- Manufacturing: 44.9 vs 46.9 expected (46.2 previously)
- Services: 50.5 vs 49.0 expected (48.3 previously)
Germany, flash PMIs for April
- Manufacturing: 42.2 vs 42.9 expected (41.9 previously)
- Services: 53.3 vs 50.5 expected (50.1 previously)
EURUSD rallied following French PMI report, gaining around 0.2% in the 15 minutes following the release. Release of German PMIs another more fuel to the move, with EURUSD spiking to the highest level since April 12, 2024.
Source: xStation5
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.