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PMI rebounds in Germany, massive declines in France. Euro recovers from losses

8:34 AM 22 September 2023

Germany:

  • Manufacturing PMI:  39.8 (expected: 39.5; previous: 39.1)
  • Services PMI: 49.8 (expected: 47.1; previous: 47.3)

France:

  • Manufacturing PMI: 43.6 (expected: 46.1; previous: 46.0)
  • Services PMI: 43.9 (expected: 46.0; previous: 46.0)

A real roller coaster on EURUSD in the last minutes. First, dismal data from France, and now better data from Germany, although indicating a recession. EURUSD is recovering, although investors are somehow not strongly positive.

 

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