S&P has released the preliminary (flash) Purchasing Managers’ Index (PMI) data for Germany’s manufacturing and services sectors, which significantly influenced the EURUSD movement during trading on Tuesday (September 23, 2025).
The manufacturing PMI was reported at 48.5, falling short of the forecast by Trading Central of 50 and lower than the previous month’s figure of 49.8. In contrast, the services PMI stood at 52.5, exceeding the Trading Central forecast of 49.9 and showing an increase from the prior month’s reading of 49.3.
Recommended
Recommended
Recommended
Recommended
Following the release of this data, EURUSD adjusted to around 1.18000 after previously dropping to 1.17776.
The PMI utilizes a threshold of 50, indicating contraction when below this level and expansion when above it.
This recent data reveals an unexpected expansion in Germany’s services sector this month, and it has shown notable growth. Conversely, the manufacturing sector is experiencing a deeper contraction.
The market seems to respond to the positive surprises coming from the services industry, which accounts for roughly 70% of Germany’s gross domestic product (GDP). Thus, its expansion could significantly boost economic growth.
Germany holds the title of having the largest economy within the eurozone. Improvement signs in its economy could potentially uplift other nations as well. This scenario provides a positive sentiment towards EURUSD whenever German economic data shows improvement.
