German PMI data weakens, euro falls.

A key indicator measuring activity in the German manufacturing and services sectors fell into contraction in April, leading to a slight decline in the euro. The composite Purchasing Managers' Index (PMI) for April dropped to a 16-month low of 48.3 from 51.9 in March. A reading below 50 indicates a contraction in activity, while a reading above 50 indicates growth. Earlier data showed that France's composite PMI for April fell from 48.8 in March to 47.6. Following the release of the German data, the euro fell by 0.1% to $1.1694, compared to $1.1701 earlier. According to Tradeweb's data, the yield on 10-year German government bonds was at 3.018%, up 2.1 basis points from the previous trading day's 3.025%.