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- EUR / USD retreated after data on euro zone PMI
EUR / USD retreated after data on euro zone PMI
The single currency started to gain momentum after the publication of positive growth indicators PMI Germany - the euro area rose to $ 1.2868 highs night on German data and after the euro zone PMI retreated to $ 1.2855.
According to the study Markit, in November PMI index of manufacturing activity in Germany rose unexpectedly to 46.8, although it was expected that he would remain in the flat at around 46.0. However, similar to the index of activity in the service sector eased from 48.4 to 48.0. Thus, the German economy still continues to remain in the reduction, indicating a weakening of the national economy.
Preliminary index of manufacturing activity in the euro zone PMI Markit rose in November from 45.4 to 46.2 vs. 45.5. Meanwhile, in the services PMI eased from 46.0 to 45.7 (forecast 46.0). As a result, the composite PMI strengthened slightly from 45.7 to 45.8, according to the forecast.
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