FX News – The euro slumped after the release of German PMI data. The pair is currently trading at around 1.0977.
The flash German Purchasing Managers’ Index slipped to its lowest since October 2012. From 51.7 in August, it tumbled to 49.1 in September.
This is also the first time the PMI slipped lower than the 50 no-change mark since April 2013.
Markit’s flash composite PMI tracks the manufacturing and services sector. These two factors account for more than two-thirds of the economy.
According to an analyst at IHS Markit, the economy is “limping toward the final quarter.” If it continues its current trajectory, the economy might not grow before the year end.
Trade wars, car industry outlook, and the Brexit saga are “paralyzing the books,” according to this analyst.
A sub-index that measures services activity slipped to 52.5 from 54.8 during the previous month.
Looking Ahead: FX News and Fed Appearances
The flash German Purchasing Managers’ Index slipped to its lowest since October 2012. From 51.7 in August, it tumbled to 49.1 in September.
This is also the first time the PMI slipped lower than the 50 no-change mark since April 2013.
Markit’s flash composite PMI tracks the manufacturing and services sector. These two factors account for more than two-thirds of the economy.
According to an analyst at IHS Markit, the economy is “limping toward the final quarter.” If it continues its current trajectory, the economy might not grow before the year end.
Trade wars, car industry outlook, and the Brexit saga are “paralyzing the books,” according to this analyst.
A sub-index that measures services activity slipped to 52.5 from 54.8 during the previous month.
Looking Ahead: FX News and Fed Appearances
𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬
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