German Preliminary Manufacturing PMI rises to 42.2 in April vs. 42.8 expected

Germany’s Manufacturing PMI rose to 42.2 in April vs. 42.8 forecast.
Services PMI for the German economy advanced to 53.3 in April vs. 50.6 estimate.
EUR/USD jumps toward 1.0700 after mixed German PMIs.

Germany’s manufacturing sector witnessed some improvement in the contraction in April while the services sector outperformed, the preliminary business activity report published by the HCOB survey showed Tuesday.

The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse rose to 42.2 this month, compared with the 42.8 estimate and March’s 41.9. The index hit the highest level in two months.

Apr 23, 2024

Forex Today: Major pairs stabilize ahead of key PMI data

Here is what you need to know on Tuesday, April 23: Major currency pair fluctuate in relatively tight channels early Tuesday as investors await key data releases.

ECB's de Guindos: Barring any surprises, June rate cut is a 'fait accompli'

European Central Bank (ECB) Vice President Luis de Guindos said on Tuesday that “barring any surprises, the June rate cut is a 'fait accompli'.” Additional quotes But have to be very cautious about what comes afterwards.