Euro Falls After Weak French PMI Data

Dow Jones15:26

0726 GMT - The euro falls further against the dollar after the latest French purchasing managers' index survey came in worse than expected. The French composite PMI fell to a four-month low of 48.4 in October from 51.1 in September. A level below 50 signals a contraction in private sector activity. Economists in a WSJ survey had expected a reading of 50.8. "September's rebound in economic activity proved to be short lived, which is hardly surprising given the rapid tightening of financial conditions and a further increase in political pressures across France during October," S&P's Joe Hayes says in a note. The euro falls 0.2% to an intraday low of $1.1193 after the data from $1.1204 beforehand.

 

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