German Preliminary Manufacturing PMI rises to 44.1 in January vs. 42 expected

• Germany’s Manufacturing PMI improved to 44.1 in January vs. 42 estimated.
• Services PMI for the German economy rose to 52.5 in January vs. 51 anticipated.
• EUR/USD picks up fresh bids to close in on 1.0500 after upbeat German PMIs.

The German manufacturing and services sectors activity improved in January, the preliminary business activity report published by the HCOB survey showed Friday.

The HCOB Manufacturing PMI in the Eurozone’s top economy unexpectedly rose to 44.1 this month, compared to December’s 42.5 while beating the expected 42 figure.