German Flash PMIs below expectations
May German Flash Manufacturing at 58.2 against a previous 62.0 and an expected 61.0.May German Flash Services at 54.9 against a previous 56.8 and an expected 57.0.May German Flash Composite at 56.4 against an expected 59.9
Immediately at the time of the release the EUR/USD slipped around 12pips, the pair remained trending lower to day’s lows at 1.3996 minutes after the release.
Comments from ECB’s Nowotny are being published around the same time of the release as well – and could have also pressured the Euro further.
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