Euro Stays Flat Amid Mixed German PMI Data, US Dollar Remains Firm

The Euro remains relatively unchanged against its major currency peers following the release of German preliminary HCOB Purchasing Managers' Index (PMI) data for September.

The PMI report shows a slowdown in the manufacturing sector output, with the Manufacturing PMI arriving at 53.8, lower than the estimated 54.5 and previous reading of 54.3. However, the services sector activity returns to expansion territory, with the Services PMI jumping to 52.9 from 49.7 in August.

A figure above 50 is considered as expansion in business activity. Strong service sector activity led to a significant growth in overall business activity, with the Composite PMI rising to 53.8 from 51.8 in August.