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French PMI data disappoints- EUR/USD slips further
The latest French flash PMI data has just been released and it has missed on expectations. In fact it was rather disappointing. The services and manufacturing PMI data both missed on forecasts and in particular it was the Manufacturing numbers that missed most of all, falling back to 45.8 from 47.1. The markets had expected a flash reading of 47.5. Next up comes the German equivalent at 8.30am GMT. If that replicates what we just saw from France, then the EUR/USD might slip further. Right now the weaker dollar dynamic is in the ascendancy, but the EUR/USD has reacted negatively to that French data, currently trading at 1.0917
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