BREAKING: Mixed PMIs from France and Germany. EURUSD edges down 📉

08:15 AM GMT, France - PMI Data for May:

HCOB France Composite PMI: actual 48.0; forecast 48.0; previous 47.8;
HCOB France Services PMI: actual 47.4; forecast 47.7; previous 47.3;
HCOB France Manufacturing PMI: actual 49.5; forecast 48.9; previous 48.7;

08:30 AM GMT, Germany - PMI Data for May:

HCOB Germany Composite PMI: actual 48.6; forecast 50.4; previous 50.1;
HCOB Germany Services PMI: forecast 49.6; previous 49.0;
HCOB Germany Manufacturing PMI: actual 48.8; forecast 48.8; previous 48.4

Germany’s private sector contracted in May for the first time this year, driven by a sharp decline in services activity, which hit a 30-month low amid weak demand and rising customer uncertainty. Manufacturing showed modest growth, supported by rising export orders — particularly from the U.S. — but output gains slowed, highlighting the fragile recovery in the industrial sector.

Price pressures eased, with factory gate prices falling again and service sector inflation cooling to a seven-month low. Employment dipped slightly as manufacturing job cuts offset mild service sector hiring. Business confidence improved, especially in manufacturing, fueled by hopes of stronger public investment and easing trade tensions, though service providers remained cautious.

France’s private sector remained under pressure in May, marking the ninth consecutive month of contraction. The core driver of this continued downturn was persistent weakness in the services sector, which outweighed a nascent rebound in manufacturing output. Services companies reported falling demand, postponed orders, and heightened customer hesitancy — factors that sharply reduced sales and led to deeper price discounting.

EURUSD started edging down prior to the data relase, breaking below a brief consolidation between 1.1315 and 1.135. The pair has dipped below 1.13 at the release of a datapoint for Germany, albeit it quickly reverted back above this key level. Source: xStation5

Source: XTB Research

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BREAKING: Mixed PMIs from France and Germany. EURUSD edges down 📉

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