StockMarketWire.com - German manufacturing purchasing managers index (PMI) has fallen into contraction to 48.9, down from its previous reading of 50.3. The move is likely to push the euro lower against the majority of its major counterparts.
As the benchmark of manufacturing in Europe, the bearish German number will have the biggest impact on the 17-nation currency. This poor PMI number comes after a positive ZEW economic sentiment reading on Monday, and Wednesday’s fall in ten-year bund yields.
EURGBP 0.8517 -0.58%, EURNZD 1.5583 -0.55%, EURAUD 1.2421 -0.48%, EURJPY 123.43 -0.45%, EURUSD 1.2892 -0.41%, EURCAD 1.3219 -0.37% and EURCHF 1.2206 -0.20%.
At 9:10am:
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