Home » Currency Note » Currency Note » Currency Note EUR » EUR: a bit of a mixed bag for PMI data

As attention was firmly trained on the prospect of a no-deal Brexit, Germany and the eurozone posted a raft of purchasing managers’ indices which slipped under the radar a little. If we look closely at the readings, we can see they were a bit of a mixed bag, with some defying expectations on the upside while others came in below forecast.

Composite, manufacturing and services in Germany had been expected to post figures of 55.4, 55.7 and 55 respectively (from 55.6, 55.9 and 55 the previous month), but they actually came in at 55.3, 53.7 and 56.5. So, of the three, only services came in above expectations, although it was by some distance. Indeed, it was the highest expansion in services activity for eight months.

In the eurozone, composite, manufacturing and services were all expected to come in at 54.4 from (54.5, 54.6 and 54.4 the previous month). So, hardly any movement was predicted by analysts. They didn’t come in too wide of the mark either, posting readings of 54.2, 53.3 and 54.7 respectively. Once again, services surprised on the upside, which is pretty much how it has gone in the UK in recent times.

Regarding currency movements, the euro obviously had a strong day against sterling, but it was a different story against the dollar. Still, the euro has benefited from recent dollar weakness, although across the week it didn’t manage to make a whole cent.

Find out how we can help you

Let us know a little more about your upcoming currency exchange needs. We aim to take the uncertainty away by providing guidance on which services suit your individual requirements. You can then rest, assured your money is not at the mercy of the currency markets.

Protect against risk

Avoid losing money and protect against currencies moving against you.

Dedicated trader

Dedicated currency trader working with you to get the best value for your money.

Secure and efficient transfers

Secure, quick and efficient transfers. Authorised by the FCA.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Keep up to date

Get regular, jargon-free currency market updates delivered directly to your inbox.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Refer a friend or business

Recommend our services to your friends, family or colleagues and earn great rewards.