Private sector PMI numbers fall short of prelim figures, sending the EUR into the red. Eurozone retail sales and U.S stats will be in focus over the remainder of the day...
Following manufacturing PMI numbers on Monday, service sector and composite PMIs were in focus this morning
In July, Spain’s services PMI decreased from 62.5 to 61.9, while Italy’s services PMI rose from 56.7 to 58.0. Economists had forecast PMIs of 62.9 and 58.0 respectively.
France’s services PMI fell from 57.8 to 56.8, which was down from a prelim 57.0.
Germany’s services PMI increased from 57.5 to 61.8, which was down from a prelim 62.2.
In July, the services PMI increased from 58.3 to 59.8 which was down from a prelim 60.4. As a result, the Composite PMI rose from 59.5 to 60.2, down marginally from a prelim 60.6.
According to the finalized survey,
In response to today’s stats, the EUR rose to a post-stat high $1.18785 before falling to a post-stat and current day low $1.18523.
At the time of writing, the EUR was down by 0.09% to $1.18537.
Eurozone retail sales ahead of ADP nonfarm employment change and ISM Non-Manufacturing PMI numbers from the U.S.
With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.