Reuters: US Dollar Report: Euro falls, equities pare gains on German PMI

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Euro falls, equities pare gains on German PMI Apr 23rd 2013, 07:39 LONDON, April 23 | Tue Apr 23, 2013 3:39am EDT LONDON, April 23 (Reuters) - The euro fell to a session low while European equities pared back earlier gains on Tuesday after data showed Germany's private sector shrank for the first time in five months in April. The euro fell 0.3 percent on the day to a session low of $1.3024 after the data was released, from $1.3078 beforehand. German Bund futures rose slightly after the data, last trading 4 ticks higher on the day at 146.39, while the pan-European FTSEurofirst 300 share index pared its earlier gains to stand up 0.5 percent at 1,161.14 points, having been up by 0.6 percent before the data was released. Markit's German flash composite Purchasing Managers' Index (PMI) measuring growth in both manufacturing and services, which together account for more than two-thirds of the German economy, fell to 48.8 in April from 50.6 the previous month.

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