Final services PMI readings for May from European countries were released this morning. Revised data from France and Germany, as well as whole euro area, showed lower PMI readings than flash releases. Releases from Spain and Italy also missed expectations and came in lower compared to a month ago. Nevertheless, services sector in all major European economies is still in expansion with PMI readings above 50 pts threshold.
- Spain: 56.7 vs 56.8 expected (57.9 previously)
- Italy: 54.0 vs 57.0 expected (57.6 previously)
- France: 52.5 vs 52.8 in first release (54.6 previously)
- Germany: 57.2 vs 57.8 in first release (56.0 previously)
- Euro area: 55.1 vs 55.9 in first release (56.2 previously)
EUR moved slightly lower on those releases with EURUSD looking back towards daily lows in the 1.0682 area. Equity indices did not saw any major reaction to PMIs today.
EURUSD at 5-minute interval. Source: xStation5
Daily summary: Precious metals euphoria continues unabated 📈
BREAKING: China issues implementation rules on port fees on US ships
France on the Brink
Economic calendar: light agenda kicking off an interesting week 📌
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
