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Euro declining as manufacturing in a slippery slope in Germany

EURUSD News by Newsroom on 10:29 April 18, 2019 EST

EUR/USD extended on Thursday  its falls after US retail sales beat expectations with 1.6% despite downward revisions. The single currency trades in the low 1.1200 area recovering mildly after Germany's Manufacturing PMI dropped sent it lower in early morning trading, while GBP/USD also weak, trades around 1.3000. It dipped below the mark earlier.

Euro area’s flash services PMI index fell in April reinforcing the forecast that economic growth will remain soft for some time

Services PMI index dropped 0.8 points to 52.5. The index for the manufacturing sector, which is greatly responsible for the subdued growth in the past quarters, rose a bit from 47.5 to 47.8 after the surprising slump in March.