EURUSD pulls back slightly after PMI revisions

A number of manufacturing PMI indices for August from European countries was released this morning. However, the majority of those were revisions to flash estimates released so market reaction was somewhat limited. Data from Spain and Italy, which were first releases, missed expectations, especially Spanish reading. French data was revised slightly lower while German data matched flash estimates. 

Manufacturing PMIs for August from Europe

• Spain: 46.5 vs 48.8 expected (47.8 previously)
• Italy: 45.4 vs 45.7 expected (44.5 previously)
• France (final): 46.0 vs 46.4 in first release
• Germany (final): 39.1 vs 39.1 in first release
• Euro area (final): 43.5 vs 43.7 in first release

As we have said earlier, market reaction to the data release was minimal. EURUSD pulled back slightly while DE30 traded a touch higher.

Source: xStation5