The Markit released German Flash Manufacturing PMI data that came out lower-than-expected of 44.7, compared to forecast 48. Note, that the German Flash Services PMI was released at the same time with the Manufacturing PMI.
Key comments from Phil Smith, Principal Economist at IHS Markit: "The downturn in Germany's manufacturing sector has become more entrenched, with March's flash data showing accelerated declines in output, new orders and exports. Uncertainty towards Brexit and US-China trade relations, a slowdown in the car industry and generally softer global demand all continue to weigh heavily on the performance of the manufacturing sector, which is now registering the steepest rate of contraction since 2012."
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| Historical Data Table: German Flash Manufacturing PMI | Economic Calendar for 25.03.2019 | ||||||||
| Date | 23.11.2018 | 14.12.2018 | 24.01.2019 | 20.02.2019 | 22.03.2019 | 9:00 AM | German Ifo Business Climate | ||
| Actual | 51.6 | 51.5 | 49.9 | 47.6 | 44.7 | 21:45 PM | NZD Trade Balance | ||
| Forecast | 52.3 | 51.8 | 51.4 | 49.7 | 48 | - | - | ||
| Initial Reaction on Main Pairs | Open Position Proportions on 22.03.2019 | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| EUR/USD | 1.13704 | 1.13296 | -0.36% | EUR/USD | 25.48% | 74.52% | |||
| EUR/GBP | 0.86554 | 0.86424 | -0.15% | EUR/GBP | 55.63% | 44.37% | |||
| EUR/CHF | 0.86554 | 0.86424 | -0.15% | EUR/CHF | 73.19% | 26.81% | |||
| EUR/JPY | 125.98 | 125.513 | -0.37% | EUR/JPY | 45.36% | 54.64% | |||