Germany PMI rose to 39.1 in August, compared to the projected 38.7.The German economy’s services PMI fell to 47.3 in August, vs 51.5 predicted
The industrial slump in Germany eased in August, while the services sector contracted, according to the preliminary business activity report from the HCOB survey released on Wednesday.
The HCOB Manufacturing PMI in the Eurozone’s largest economy was 39.1 this month, up from 38.7 expected and 38.8 recorded in July. The indicator reached its highest point in two months.
Meanwhile, the Services PMI fell from 52.3 in July to 47.3 in August. The market predicted a reading of 51.5. The index fell to a new nine-month low.
The HCOB Preliminary German Composite Output Index is now available. at 44.7 in August, down from 48.3 predicted and 48.5 in July. The index hit a 39-month low.
Germany PMI impact on market
On the back of conflicting German data, the EURUSD is slipping toward 1.0800. At the time of writing, the pair is trading 0.25% down at 1.0815.
https://voiceoftraders.com/analysis/eurusd-trading-higher-at-1-0860-as-us-dollar-falls
