Latest German Manufacturing PMI at 44.1 vs Forecast 42.3, EURUSD Rises

Germany has released its Purchasing Managers’ Index (PMI) data for both manufacturing and services, leading to a significant impact on the movements of EURUSD.

In January, the German manufacturing PMI was reported at 44.1, surpassing the forecast by Trading Central which was set at 42.3, and improving from the previous month’s figure of 42.5. Meanwhile, the services PMI was reported at 52.5, also higher than the forecast of 51 and the previous month’s result of 51.2.

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Following this release, EURUSD climbed to 1.04942, marking the highest level in the past month. Compared to Thursday’s trading close, EURUSD surged nearly 800 points (80 pips).

The upward movement of EURUSD began after U.S. President Donald Trump asserted that he would urge the Federal Reserve to lower interest rates promptly. This statement exerted pressure on the U.S. dollar and contributed to the increase in EURUSD since morning.