EURUSD Slips to Fresh Monthly Low After PMI’s Disappointment

EURUSD slips to fresh daily and monthly lows at 1.1130, EURGBP is also under selling pressure after the news making new daily low at 0.8955 while the EURJPY giving up over 45 pips down to 120.24. The data shows that Germany and EU economy is in very bad shape, since the beginning of the year all macro figures have disappointed investors and EURUSD traders. ECB must act very before the situation is out of control.

Here is the data scorecard:

Germany Markit Services PMI came in at 55.4, above expectations of 55.3 in July

Germany Markit Manufacturing PMI registered at 43.1, below expectations of 45.2 in July

Germany Markit PMI Composite came in at 51.4 below forecasts of 52.3 in July

France Markit Services PMI came in at 52.2, missing expectations of 52.6 in July

France Markit PMI Composite registered at 51.7, missing expectations of 52.5 in July

France Markit Manufacturing PMI came in at 50 missing forecasts of 51.6 in July.

France Business Climate came in at 101 below forecasts of 102 in July

German flash manufacturing PMI slips to 43.1 in July, EUR/USD hits fresh 2-yr lowsDon’t miss a beat! Follow us on Twitter.