Germany has released its latest data for the Indeks Pengurus Pembelian (PMI) pertaining to services and manufacturing, which significantly impacts the EURUSD exchange rate during trading on Monday (March 24, 2025).
The manufacturing PMI for Germany this month was reported at 48.3, surpassing the ramalan of 48 and showing an improvement from the previous month’s figure of 46.5.
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In contrast, the services PMI was reported at 50.2, considerably lower than February’s 51.1 and reversing the expected increase to 51.5.
This decline in the services PMI has exerted downward pressure on EURUSD, which dropped to 1.08410.
With the services PMI nearing the critical threshold of 50 (the line separating expansion from contraction), this adds further stress on EURUSD, already affected by negative sentiment regarding the potential slowdown in the eurozone economy.
Last week, European Central Bank (ECB) President Christine Lagarde noted that the ongoing trade war between the U.S. and the European Union could reduce eurozone economic growth by up to 0.5 percentage points.
