Latest data released by Markit/BME - 22 August 2019
The figures are slightly better than expected with the manufacturing sector seen improving slightly but continuing to underperform for the most part. The services sector may have beaten expectations but falls to a seven-month low.
The respite is helping to see EUR/USD move to a session high of 1.1102 but I don't see much reason to be optimistic here. All this does is reaffirm the notion that Germany is still likely headed towards a technical recession and the gradual weakness in the services sector will be a cause of concern moving forward.
