EU S&P Global Composite PMI Final (Apr) 48.8 vs. Exp. 48.6 (Prev. 50.7)

The final S&P Global Composite PMI for the Eurozone in April came in at 48.8, slightly above expectations of 48.6, but significantly down from the previous month's reading of 50.7.

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[MARKET UPDATE] USD/JPY falls from 156.12 to 155.70 over two minutes before retracing the entirety of the move. Does not look like intervention. Potentially a function of the recent moves in crude.

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EU S&P Global Composite PMI Final (Apr) 48.8 vs. Exp. 48.6 (Prev. 50.7)

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This indicates a contraction in economic activity, suggesting weakening momentum which could raise concerns about the region's growth outlook and impact future monetary policy decisions.

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