BREAKING: Euro drops slightly after European PMI readings

Eurozone HCOB Manufacturing PMI May: 47.3 (est 47.4; prev 47.4)

German HCOB Manufacturing PMI May: 45.4 (est 45.4; prev 45.4)
French HCOB Manufacturing PMI May: 46.4 (est 46.7; prev 46.7)
Italian HCOB Manufacturing PMI May: 45.6 (est 48.0; prev 47.3) - outlier
Spanish HCOB Manufacturing PMI May: 54.0 (est 52.6; prev 52.2) - outlier

The euro slightly lost ground against the dollar after the PMI data readings for May. Overall, the data came out almost in line with expectations, with, however, a slight observed bias toward worse momentum in the economy.

Source: xStation

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