BREAKING: EURUSD gains on solid PMIs

Flash PMI indices for November from France and Germany were released at 8:15 am GMT and 8:30 am GMT respectively. Releases from both countries turned out to be better-than expected.

France

• Manufacturing: 54.6 vs 53.0 expected (53.6 prior)

• Services: 58.2 vs 55.9 expected (56.6 prior)

Germany

• Manufacturing: 57.6 vs 56.9 expected (57.8 prior)

• Services: 53.4 vs 51.5 expected (52.4 prior)

In spite of solid PMIs, European equities failed to catch a bid. DE30 deepened decline and dropped below 15,900 pts for the first time since early-November. EUR on the other hand gained slightly with EURUSD jumping back above 1.1260.

Source: xStation5