wrapper

German and French PMI fell in February

Monday, Feb 22 2016
German private sector activity grew at the slowest pace in seven months in February, dampening optimism over the health of the euro zone’s largest economy, preliminary data showed on Monday. The preliminary German manufacturing purchasing managers’ index tumbled to a seasonally adjusted 50.2 this month from a final reading of 52.3 in January, the lowest in 15 months and missing estimates for 52.0. Meanwhile, the preliminary services purchasing managers’ index inched up to a seasonally adjusted 55.1 in February from 55.0 in the prior month. Analysts had expected the index to dip to 54.7.
French private sector activity grew at the slowest pace in more than a year in February, underlining concerns over the economic outlook of the euro zone’s second largest economy, preliminary data showed on Monday. The preliminary services purchasing managers’ index fell to a seasonally adjusted 49.8 this month. The reading came in below expectations for 50.3 and down from 50.3 in January. In contrast, the French manufacturing purchasing managers’ index inched up to a seasonally adjusted 50.3 this month, beating expectations for 49.9 and up from 50.0 a month earlier.
 
Euro is currently being traded few points above 1.1080 level. Pair is likely to find support around 1.1050 handle and resistance above 1.1150 level. There will be no major data releases later today.
More in this category: « Aussie getting mixed signals CBI Industrial Order Expectations survey showed a balance of -17% »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.