08:15 AM GMT, France – PMI Data for March:
- HCOB France Composite PMI: actual 47.0; previous 45.1;
- HCOB France Services PMI: actual 46.6; forecast 46.3; previous 45.3;
- HCOB France Manufacturing PMI: actual 48.9; forecast 46.2; previous 45.8;
08:30 AM GMT, Germany – PMI Data for March:
- HCOB Germany Composite PMI: actual 50.9; forecast 51.2; previous 50.4;
- HCOB Germany Services PMI: actual 50.2; forecast 52.3; previous 51.1;
- HCOB Germany Manufacturing PMI: actual 48.3; forecast 47.1; previous 46.5
German business activity increased at the quickest pace in ten months, driven by a rebound in manufacturing output, which saw its first increase in nearly two years, while the service sector stagnated amid weak demand. Inflationary pressures eased, employment continued to decline – though at a slower pace – and business sentiment improved, supported by stronger infrastructure spending and hopes for economic recovery.
French data also improved, but the overall sentiment remains pessimistic, with further output and employment declines. The business confidence drop to its lowest in almost five years.
EURUSD trades sideways following PMI release for two biggest EU economies, hovering above 1.084. Source: xStation5
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