Markit’s Manufacturing PMI for Germany has risen to 60.6 points in February’s preliminary reading, notably improving from the expected 56.5 and January’s 57.1. Today’s is the best result seen by the indicator since February 2018.
The Services PMI, Nevertheless, has regressed to 45.9 from the previous 46.7, worsening the 46.5 estimated by the market. This is the fifth consecutive month that the service sector indicator has contracted below the 50-point mark, the February figure being the lowest recorded since May 2020.
EUR / USD reaction
The EUR/USD has soared higher in the last two hours, jumping above 1.2100 to reach after the data its highest price in three days at 1.2126. At time of writing, the cross is trading above 1.2125, gaining 0.28% daily.
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