Poor German data hits the euro

(Source: Yahoo! Finance)

The euro has slipped against the dollar, retracing its gains from improved French numbers earlier. Markit Purchasing Managers Index data saw Germany's order books worse across both manufacturing and services sectors in April.

Manufacturing fell from 49 to 47.9, while economists expected the sector to remain flat. Services dropped from 50.9 to 49.1, while an improvement to 51 was anticipated. Both sectors are now considered to be contracting, as implied by a figure below 50.