Latest data released by Markit/BME - 18 April 2019
- Prior 44.1
- Services PMI 55.6 vs 55.0 expected
- Prior 55.4
- Composite PMI 52.1 vs 51.7 expected
- Prior 51.4
The euro is stumbling on the back of this release here as the dollar catches a bid across the board though I'm a bit puzzled by that. The manufacturing reading does disappoint expectations but it's still an improvement to that of March while the services and composite reading are also beats.
That said, a reading of 44.5 is still relatively awful in comparison to how the rest of the major economies are performing with regards to their manufacturing sector.
EUR/USD stumbles from 1.1290 levels to a low of 1.1271 while the dollar and yen are bid across the board. I reckon it's more to do with a jolt to equities and bonds rather than a straightforward euro decline.
