Quick look as PMI impact settles
The weak PMI data was not a surprise, but the flow through into service data is confirmation of the feared inevitable, hence the weakness we see in the EUR/USD, German Bonds rising and European equities down. Dax now increasing its losses and at -1.48%.
So, the strongest currencies include the JPY and CHF (on risk aversion) with the EURO and the GBP the weakest on the session. Watch out for further risk souring.
