9:04 AM · 3 July 2023

EURUSD holds below 1.09 after European PMI revisions

EUR/USD
Forex
-
-

Economic calendar for the European morning was dominated by releases of manufacturing PMI indices for June. However, it should be said that the majority of those was a revision and therefore was not expected to trigger any larger moves on the markets. Data can be described as mixed at best. Spanish data showed a small beat while Italian reading disappointed. French data was revised slightly higher while German reading was revised slightly lower. Reading for the whole euro area was more or less in-line with preliminary reading. A key takeaway is that manufacturing sector in all the biggest EMU economies remains in contraction territory.

European manufacturing PMIs for June

  • Spain: 48.0 vs 47.7 expected (48.4 previously)
  • Italy: 43.8 vs 45.4 expected (45.9 previously)
  • France: 46.0 vs 45.5 in first release (45.7 previously)
  • Germany: 40.6 vs 41.0 in first release (43.2 previously)
  • Euro area: 43.4 vs 43.6 in first release (44.8 previously)

Markets did not see much of a reaction to PMI revisions. EURUSD holds below 1.09 mark while German DE30 trades slightly above 16,300 pts mark.

EURUSD at H1 interval. Source: xStation5

17 October 2025, 7:03 PM

Daily summary: Trump remarks helps Wall Street 📈Precious metals decline

17 October 2025, 5:37 PM

Fed's Musalem remarks on the US economy and tariffs🗽

17 October 2025, 12:37 PM

The AI Fever: Bubble or Will It Keep Rising?

17 October 2025, 10:01 AM

BREAKING: Final inflation reading matches expectations. Core HICP inflation marginally higher

Join over 1 700 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits