BREAKING: EURUSD and DE30 volatile after mixed PMIs

9:33 AM 21 February 2023

Flash PMI indices from France and Germany were released this morning at 8:15 am GMT and 8:30 am GMT, respectively.

French data turned out to be mixed with manufacturing index missing expectations heavily and dropping into contraction territory. On the other hand, French services reading beat estimates significantly and climbed into expansion territory. EURUSD traded slightly higher following the release while European indices, like German DAX, dropped.

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German reading showed a similar picture - manufacturing data missed expectations and remained in contraction territory while services tacked came mostly in-line with estimates and remain in expansion territory. Indices recovered part of the drop following the German release while EURUSD gave back gains. Overall, DE30 trades more or less flat compared to levels from before French PMI release while EURUSD trades lower.

France

Manufacturing: 47.9 vs 50.8 expected (50.5 previously)
Services: 52.8 vs 49.9 expected (49.4 previously)

Germany

Manufacturing: 46.5 vs 47.8 expected (47.3 previously)
Services: 51.1 vs 51.0 expected (50.7 previously)

EURUSD at 5-minute interval. Source: xStation5

DE30 at 5-minutes interval. Source: xStation5

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