The Eurozone manufacturing sector activity contraction unexpectedly deepened while the services sector continued to expand in April, according to the data from the HCOB's latest purchasing managers index survey released on Tuesday.
Eurozone Manufacturing PMI fell to 45.6 in April, missing 46.5 consensus. Bloc’s Services PMI climbed to 52.9 in April vs. 51.8 forecast. EUR/USD eases from near 1.0700 after German, Eurozone PMI data. The Eurozone manufacturing sector activity contraction unexpectedly deepened while the services sector continued to expand in April, according to the data from the HCOB'slatest purchasing managers indexsurvey released onTuesday. The Eurozone Manufacturing Purchasing Managers Index came in at 45.
Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
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