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Signs of Fading Price Pressures in France PMI

DATA REACT

Highlights from the PMI report - signs of fading price pressures:

  • Worsening decline in manufacturing production was accompanied by a renewed reduction in activity across the services economy
  • Driving June’s slump in activity was a further and faster deterioration in demand, particularly from abroad
  • Rates of input cost and output price inflation eased since May to 27- and 22-month lows respectively
EUR under pressure in response, pushing EUR/USD to new daily lows of 1.0884 and within range of the 50-dma support at 1.0876.

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