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German Preliminary Manufacturing PMI jumps to 45.4 in May vs. 43.1 expected – Crypto News

Published

2 years ago

May 23, 2024

Dripp

The German manufacturing sector’s pace of contraction slowed in May while the services sector outperformed, the preliminary business activity report published by the HCOB survey showed Thursday.

The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse came in at 45.4 this month, improving from April’s 42.5 while much above the expected 43.1 print. The index climbed to the highest level in four months.

Meanwhile, Services PMI rose from 53.2 in April to 53.9 in May, above the market consensus of 53.5 in the reported period. The measure hit an 11-month peak.

The HCOB Preliminary German Composite Output Index stood at 52.2 in May vs. 51.0 expected and 50.6 recorded in April. The gauge clinched a yearly high.

FX implications

EUR/USD has bounced off intraday lows on the strong German data, currently trading 0.07% higher on the day at 1.0830.

Euro PRICE Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.05%	-0.09%	-0.09%	-0.11%	-0.04%	-0.20%	-0.13%
EUR	0.05%		-0.04%	-0.03%	-0.06%	0.00%	-0.17%	-0.08%
GBP	0.09%	0.04%		0.02%	-0.02%	0.05%	-0.12%	-0.04%
JPY	0.09%	0.03%	-0.02%		-0.02%	0.04%	-0.18%	-0.05%
CAD	0.11%	0.06%	0.02%	0.02%		0.07%	-0.09%	-0.03%
AUD	0.04%	-0.01%	-0.05%	-0.04%	-0.07%		-0.16%	-0.11%
NZD	0.20%	0.17%	0.12%	0.18%	0.09%	0.16%		0.07%
CHF	0.13%	0.08%	0.04%	0.05%	0.03%	0.11%	-0.07%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).