Flash PMI releases for April from Europe and the United States are key points in today's economic calendar. Releases from France and Germany released at 8:15 am BST and 8:30 am BST, respectively, turned out to be positive surprises.
France
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app-
Manufacturing: 59.2 vs 59.0 expected (59.3 prior)
-
Services: 50.4 vs 46.7 expected (48.2 prior)
Germany
-
Manufacturing: 66.4 vs 65.8 expected (66.6 prior)
-
Services: 50.1 vs 51 expected (51.5 prior)
The biggest surprise seems to be a big jump in French services PMI. The gauge has returned above the 50 threshold and sits in an expansion territory. While German services reading disappointed, it remained above 50, signalling that the sector continued to expand in April. In both countries, manufacturing PMIs moved slightly lower compared to prior month but were better than the market expected. EUR gained following the release. DE30 surged on French reading but has given back part of the gains since.
EURUSD extended gains following release of solid flash PMIs from Europe. The pair is additionally being supported by the weak US dollar. EURUSD is making another attempt of breaking above the 1.2050 resistance zone today. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
