After rising against the dollar yesterday, the euro has fallen this morning after the release of French and German PMI data.
PMIs summarise whether market conditions, as viewed by purchasing managers, are expanding, staying the same, or contracting.
French PMI figures for June came in lower than expected across the board, showing that the services and manufacturing industries haven’t performed as well as predicted this month. Manufacturing PMI fell to a 19-month low due to issues with both demand and supply sides amid rising prices and growing uncertainty.
PMI figures for Germany also came in lower than expected across the board this morning.
