German and French Manufacturing PMI unexpectedly rose in December

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Thursday, Dec 15 2016

German and French Manufacturing PMI unexpectedly rose in December

December’s flash France PMI data indicated private sector output rose at a sharper pace. Stronger growth was registered in both the manufacturing and service sectors, with the rate of expansion the most marked in the former. Flash France Manufacturing PMI rose to 53.5 from 51.7 in November, 67-month high. Flash France Services Activity Index increased to 52.6 from 51.6 in November, 3-month high.

Growth of Germany’s private sector continued at the robust pace seen in the preceding two months during December. The Markit Flash Germany Composite Output Index posted 54.8, down only slightly from 55.0 in November and 55.1 in October. Together, those three readings pointed to the strongest quarter since Q2 2014 (average: 55.0). Flash Germany Services PMI Activity Index came at 53.8 from 55.1 in November, 3-month low. Flash Germany Manufacturing PMI was up to 55.5 from54.3 in November, 35-month high.

Eurois currently being traded around 1.05 level. Pair is likely to find support around 1.04 handle and resistance above 1.0550 area.

Last modified on Friday, 16 December 2016

More in this category: « Australian Unemployment Rate increased to 5.7% UK Retail Sales up by 0.2% »

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