Germany June flash manufacturing PMI 43.4 vs 46.4 expected ...Middle East

Prior 45.4Services PMI 53.5 vs 54.4 expectedPrior 54.2Composite PMI 50.6 vs 52.7 expectedPrior 52.4The euro has dipped to fresh lows on the day amid the softer-than-expected readings in France and now Germany. EUR/USD is down from 1.0705 earlier to 1.0675 on the day. Just take note of large option expiries here at 1.0650-60 that could help to contain the drop for now.The readings above are all two-month lows but still points to a marginal expansion in the German economy for June. That said, an accelerated drop in manufacturing production, softening business optimism, and weaker labour market conditions are negative takeaways from the report today. HCOB notes that:"What a sharp dip at the end

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