Euro gets a slight bump higher on the day on German economic hope

<p>That is at least what the <a href="https://www.forexlive.com/news/germany-november-flash-manufacturing-pmi-423-vs-412-expected-20231123/" target="_blank" rel="follow">PMI data</a> is suggesting, with HCOB noting that Q4 performance by the German economy is expected to reflect a 0.7% decline as opposed to the previously estimated 0.9% decline instead. That is seeing EUR/USD get a slight lift from 1.0905 to 1.0920 levels now though keep in mind that there are large option expiries near 1.0900 today.</p><p>Besides some hopeful optimism on the German economy, a standout detail in both the French and German PMI data today is that inflationary pressures are still holding up rather stubbornly. Input prices are pushing higher again and output prices are also continuing to increase at a rapid pace. That is not to mention that higher prices are also continuing to be passed on to consumers and that suggests that any material drop in inflation may not be a given in the months ahead.</p><p><br></p>

This article was written by Justin Low at www.forexlive.com.