Germany: PMI preliminary manufacturing rises to 48.3 points in March compared to the 47.7 expected

  • The German manufacturing PMI advanced to 48.3 in March, compared to 47.7 anticipated.
  • The PMI of services of the German economy fell to 50.2 in March, compared to 51.4 planned.
  • The EUR/USD returns profits below 1,0850 after the Mixed German PMIs.

The activity of the German manufacturing sector served as expected, while the services sector worsened in March, according to the preliminary business activity report published by the HCOB survey on Monday.

Hcob’s manufacturing PMI in the main economy of the Eurozone rose to 48.3 this month, compared to February 46.5, exceeding the expected figure of 47.7. The measure reached a maximum of 31 months.

Meanwhile, the PMI Services fell to 50.2 in March from 51.1 in February. The market consensus was 51.4 in the reported period. The indicator reached a minimum of four months.

The HCOB preliminary production index in Germany was 50.9 in March, compared to 50.4 in February and 51.2 early. The index was at its highest level in ten months.

Implications for FX

The EUR/USD moves away from the maximums, it still rises 0.29% in the day to quote about 1,0845 after mixed German data.

Euro price today

The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the strongest currency against the New Zealand dollar.

USD EUR GBP JPY CAD Aud NZD CHF
USD -0.21% -0.22% 0.19% -0.14% -0.36% -0.05% -0.15%
EUR 0.21% -0.12% -0.10% 0.12% -0.16% 0.22% 0.10%
GBP 0.22% 0.12% 0.41% -0.39% -0.07% 0.34% 0.12%
JPY -0.19% 0.10% -0.41% -0.33% -0.57% -0.22% -0.36%
CAD 0.14% -0.12% 0.39% 0.33% -0.17% 0.09% -0.01%
Aud 0.36% 0.16% 0.07% 0.57% 0.17% 0.38% 0.27%
NZD 0.05% -0.22% -0.34% 0.22% -0.09% -0.38% -0.04%
CHF 0.15% -0.10% -0.12% 0.36% 0.01% -0.27% 0.04%

The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).

Source: Fx Street

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