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French PMI data misses on forecasts-EUR/USD falls back immediately
The French PMI data noted in the previous update has just now been released and it was disappointing across the board. Without going into detail, this data was poor on all counts and it has caused an immediate negative reaction in the EUR/USD. Prior to this release, the EUR/USD had been on the rebound, lifting back very close to the 1.05 handle. Well, not any more because this French data has sent it immediately lower again, falling back below 1.0470. The German data had better not replicate that, or it could be more of the same for the Euro this morning. That German data will follow in a few minutes, at 8.30am GMT. The CAC 40 has taken a slight hit on this news too, but in reality not by that much yet . The EUR/USD is just now trading at 1.0477
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