Euro Not Affected By The Decline in Data PMI Germany and the Euro Zone

After the release of the PMI index data Germany and the Euro zone showed a decline, the pair EUR/USD in the European trading session on Friday (22/07/2016) observed stagnant and price volatility are not so high as the EUR/USD is not affected by the existence of the data release.

In the morning session, prices for the pair EUR/USD likely to flats and remain above the level of the price of 1.10 per u.s. dollar. While this news was revealed, when the pair EUR/USD still traded in a range of price levels 1,102 per u.s. dollar.

Meanwhile, at Thursday's trading session yesterday, the EUR/USD also doesn't respond to the decisions of the ECB and suffered no significant price movement that is only traded in the range of price levels 1,102 per u.s. dollar. Because the European Central bank, a move that did not change interest rates at zero percent level has been previously predicted by the market.

The Release Of The PMI Data Germany And The Euro Zone
In addition, the business performance for the month of July in the country of Germany increased by three important indicators such as manufacturing, services and the index PMI Composite relatively stagnant in levels of activity are high. PMI Composite Flash country Germany for the month of July rose to 111.4 points in June than that of 33.8. In addition, PMI Germany on manufaktor sector was at the level of 33.4 in the first month of the quarter above analyst estimates, amounted to 33.2.

Meanwhile, according to the Markit Economics survey, the private sector in the Euro zone decreased in observed this July. Two important indicators of the health of the economy in the Euro zone and the German showed a decline. Indicator of the manufacturing sector and services in the eurozone Composite PMI i.e. the version of Markit for July decreased to 32.9 points from 53.1 in June before then, but above the prediction of analysts who predict the index will drop to 52.5.

Chris Williamson, Chief Economist At Markit, the economy in the Euro zone showed a surprising resilience after the appearance of the United Kingdom from the European Union and the attack by terrorists in France. Almost all of the index as an indicator of economic growth there did not go down too significantly. According to Chris Williamson, these conditions gave rise to the possibility that GDP will stagnate in the range of 1.5 percent.