The Markit Eurozone Manufacturing PMI has risen to 57.7 points in February preliminary reading, notably improving the 54.4 expected and the 54.8 in January. Today’s is the best result seen by the indicator since February 2018.
The Services PMI, meanwhile, has regressed to 44.7 from the previous 45.4, worsening the 45.9 estimated by the market. This is the sixth consecutive month that the service sector indicator has contracted below the 50-point mark, the February figure being the lowest recorded since November 2020.
EUR / USD reaction
EUR / USD has soared higher in the last two hours, jumping above 1.2100 to reach after German and European data its highest price in three days at 1.2134. At time of writing, the cross is trading above 1.2129, gaining 0.31% daily.
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