A mixed picture in French PMIs: manufacturing PMI dropped to 47.9, below expectations. However, services PMI rose to 49.8 points. Both are below the 50 point mark separating growth and contraction. The composite is 49.1 points.
EUR/USD is ticking just a bit lower.
Update:Â German manufacturing PMI rebounds, services slips
Markit’s purchasing managers’ index for the manufacturing sector was expected to rise to 48.7 in December in the preliminary read after a final number of 48.4 in November. Services carried expectations for an advance from 47.9 to 48.6 points.
EUR/USD traded in a relatively steady manner around 1.2450.
The PMIs are forward looking indicators, thus they are considered to have a good look towards the future. We will later have the German numbers and then the all-European figures.
And later, we have business confidence from Germany. See how to trade the German ZEW number with EUR/USD.
