German Preliminary Manufacturing PMI unexpectedly rises to 42.6 in October vs. 40.5 expected

• Germany’s Manufacturing PMI jumps to 42.6 in October vs. 40.5 estimate.
• Services PMI for the German economy bounces to 51.4 in October vs. 50.5 forecast.
• EUR/USD holds small gains toward 1.0800 after upbeat German PMIs.

The German manufacturing sector witnessed a tepid recovery in October while the services sector activity also rebounded, the preliminary business activity report published by the HCOB survey showed Thursday.