EUR/USD regains 1.16 as German Preliminary Manufacturing PMI betters estimates with 50.0 in July

• German Manufacturing PMI arrives at 50.0 in July vs. 48.0 expected.
• Services PMI in Germany improves to 56.7 in July vs. 50.5 expected.

The German manufacturing sector returned to expansion in July, the preliminary manufacturing activity report from IHS/Markit research showed this Friday.

The German Manufacturing purchasing managers index (PMI) arrived at 50.0 in July versus 48.0 expected and 45.2 previous.

Meanwhile, Services PMI rebounded to 56.7 in July as against previous month’s reading of 47.3 and 50.5 anticipated.