Flash PMI releases for April from Europe and the United States are key points in today's economic calendar. Releases from France and Germany released at 8:15 am BST and 8:30 am BST, respectively, turned out to be positive surprises.
France
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app-
Manufacturing: 59.2 vs 59.0 expected (59.3 prior)
-
Services: 50.4 vs 46.7 expected (48.2 prior)
Germany
-
Manufacturing: 66.4 vs 65.8 expected (66.6 prior)
-
Services: 50.1 vs 51 expected (51.5 prior)
The biggest surprise seems to be a big jump in French services PMI. The gauge has returned above the 50 threshold and sits in an expansion territory. While German services reading disappointed, it remained above 50, signalling that the sector continued to expand in April. In both countries, manufacturing PMIs moved slightly lower compared to prior month but were better than the market expected. EUR gained following the release. DE30 surged on French reading but has given back part of the gains since.
EURUSD extended gains following release of solid flash PMIs from Europe. The pair is additionally being supported by the weak US dollar. EURUSD is making another attempt of breaking above the 1.2050 resistance zone today. Source: xStation5
