Germany's PMI data was mixed in April with the advanced estimate reflecting the confused sentiment in the market.

The strong figure was recorded by the continued expansion in the manufacturing sector with the index rising to 61.7 from 60.9 opposed to the expected drop to 60.0.

Nonetheless, the services sector was not that resilient, especially that it relies heavily on consumer spending which surely was affected by the downbeat sentiment and rising inflation and commodity prices. Services PMI slowed to 57.7 from 60.1 and worse than the expected 59.8 though remains still in strong expansion.