Germany’s Manufacturing PMI improved to 44.1 in January vs. 42 estimated.
Services PMI for the German economy rose to 52.5 in January vs. 51 anticipated.
EUR/USD picks up fresh bids to close in on 1.0500 after upbeat German PMIs.
The German manufacturing and services sectors activity improved in January, the preliminary business activity report published by the HCOB survey showed Friday.
The HCOB Manufacturing PMI in the Eurozone’s top economy unexpectedly rose to 44.1 this month, compared to December’s 42.5 while beating the expected 42 figure. The measure hit n eight-month high.
Meanwhile, Services bounced to 52.5 in January from 51.2 in December. The market consensus was 51 in the reported period. The gauge reached a six-month top.
The HCOB Preliminary German Composite Output Index stood at 50.1 in January vs. 48 in December and 48.2 estimates. The index was at its highest in seven months.
FX implications
recovers further to test 1.0500 after the upbeat German data, currently trading 0.74% higher on the day.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.66% | -0.35% | -0.51% | -0.28% | -0.60% | -0.71% | -0.37% | |
| EUR | 0.66% | 0.31% | 0.18% | 0.38% | 0.06% | -0.05% | 0.29% | |
| GBP | 0.35% | -0.31% | -0.12% | 0.06% | -0.25% | -0.36% | -0.03% | |
| JPY | 0.51% | -0.18% | 0.12% | 0.19% | -0.14% | -0.25% | 0.10% | |
| CAD | 0.28% | -0.38% | -0.06% | -0.19% | -0.33% | -0.43% | -0.09% | |
| AUD | 0.60% | -0.06% | 0.25% | 0.14% | 0.33% | -0.11% | 0.21% | |
| NZD | 0.71% | 0.05% | 0.36% | 0.25% | 0.43% | 0.11% | 0.33% | |
| CHF | 0.37% | -0.29% | 0.03% | -0.10% | 0.09% | -0.21% | -0.33% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Forex in Cambodia: Exploring New Financial Horizons
Why Forex Trading is Thriving in Cambodia
Dive into the key drivers behind the rapid growth of forex trading in Cambodia, including economic development and increased access to technology.
Beginner’s Guide to Forex Trading in Cambodia
Learn how to get started in the forex market, with tips on finding reputable brokers, understanding market dynamics, and managing risks effectively.
©️Smiletradefx.com – Licensed under SERC Cambodia.
𝐓𝐫𝐚𝐝𝐞 𝐰𝐢𝐭𝐡 𝐚 𝐬𝐦𝐢𝐥𝐞
🧑💼 Business Support: https://t.me/sm.business.support
👨🔧 Technical Support: https://t.me/sm.technical.support
💱 Liquidity Support: https://t.me/sm.liquidity.support
European natural gas prices experienced significant weakness yesterday, with TTF closing 3.7% lower, bringing prices back below EUR48/MWh, according to ING's commodity analysts Warren Patterson and Ewa Manthey.
Oil prices came under pressure yesterday with the market and the broader complex unable to escape the sell-off seen in equity markets, ING's FX analyst Francesco Pesole notes.
EUR fell due to news about universal tariffs. Treasury Secretary Scott Bessent supports a 2.5% tariff on US imports, while Trump wants higher tariffs. This could limit EUR gains. The EUR/USD pair was at 1.0428.
