BREAKING: DE30 dips below 12,500 pts after German PMIs

8:33 AM September 23, 2022

Flash PMIs from France and Germany were key points in today's European economic calendar and were already released at 8:15 am BST and 8:30 am BST, respectively. French release came in mixed - manufacturing disappointed by a huge margin while services gauge showed a big beat. Situation looked less upbeat in case of German data - manufacturing dropped in-line with expectations while services missed significantly.

France

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  • Manufacturing: 47.8 vs 49.8 expected (50.6 previously)

  • Services: 53.0 vs 50.4 expected (51.2 previously)

Germany

  • Manufacturing: 48.3 vs 48.3 expected (49.1 previously)

  • Services: 45.4 vs 47.2 expected (47.7 previously)

European indices deepened ongoing downward move following release of French data, while EURUSD did not experience any major reaction immediately after print. DE30 recovered a bit in minutes that followed but took another hit following the release of disappointing German data.

DE30 dipped below 12,500 pts mark after disappointing German PMIs and is trying to break below yesterday's lows. Source: xStation5

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