The Markit Services PMI index for the Eurozone fell one point in January, falling to 45.4 from 46.4 in December, being the worst figure seen since November. The result, however, has improved the 45 points expected by experts.
In Germany, the PMI for services has fallen only three tenths, standing at 46.7 in January from 47 of the previous month. The indicator has not reached the expectations of 46.8.
EUR / USD reaction
EUR / USD reacted to the German data with a drop of about 30 pips, sliding to a two-month low at 1.2009. However, after the European data, the single currency has recovered some ground, now trading above 1.2025, losing 0.10% on the day.
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