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Germany: Flash PMI Manufacturing contraction slows down in May

FXstreet.com (Barcelona) - Preliminary German PMI Manufacturing increased to 49 points in May, from 48.1 points in April, according to data released today by Markit. The result is above market consensus of 48.5 points.

PMI Services grew to 49.8 points in May, following a 49.6 point reading the previous month and below expectations of a rise to 50 points.

USD/CHF establishing fresh lows at 0.9702/11

The USD/CHF has certainly shifted gears today, capping the upside at 0.9818 (daily high), in what has now been a retracement downwards across European trading back to session lows at 0.9702/11.
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Flash: GBP/USD target 1.4832 March low - Commerzbank

Sterling shed over 150 pips yesterday and Analyst, Axel Rudolph for Commerzbank said that GBP/USD has reached the 1.5035/28 target zone, made up of the April and the 20th of March lows.
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