7:34 AM · 22 September 2023

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

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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Strong Service ISM Reading as activity expanded most since 2022

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