Markets ignore final manufacturing PMIs from Europe

Final manufacturing PMIs from euro area countries were released this morning. Reports showed small deviation from expectations and preliminary values and, in turn, there was barely any market reaction to them. EURUSD trades slightly above the 1.0660 mark while DE30 trades a touch above 15,800 pts.

European manufacturing PMIs for May

• Spain: 48.4 vs 48.0 expected (49.0 previously)
• Italy: 45.9 vs 45.8 expected (46.8 previously)
• France: 45.7 vs 46.1 in first release (45.6 previously)
• Germany: 43.2 vs 42.9 in first release (44.5 previously)
• Euro area: 44.8 vs 44.6 in first release (45.8 previously)

DE30 gained at the start of today's cash trading session in Europe but release of final manufacturing PMIs from major European economies had barely any impact on the index (orange circle). DE30 attempts to break above the resistance zone marked with 38.2% retracement of a downward impulse launched on Monday. Source: xStation5