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Spain PMI revision dents the EUR/USD slightly but there is more to come
The revised Spanish June manufacturing PMI data has just now been released and it has come in lower than forecast. The markets were looking for something close to the first reading of 54. It has just been revised lower, to 52.3. That is still expansionary though, but not as hot as first reported and that news has dented the EUR/USD, pushing it back from an earlier session high at 1.0776. There are other revisions in this regard, from Italy (7.45am GMT), France (7.50am GMT) and Germany (7.55am GMT) and it remains to be seen, if any of these will also be revised lower over the next hour, as currently forecast. If that is the case, it will be by how much that determines if the EUR/USD stutters a bit more. The EUR/USD is currently trading at 1.0756
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