Latest data released by Markit - 23 April 2018

  • Prior 56.6
  • Services PMI 55.0 vs 54.6 expected
  • Prior 54.9
  • Composite PMI 55.2 vs 54.8 expected
  • Prior 55.2

A beat for services and composite readings relative to expectations, but manufacturing print slumped once again. The manufacturing print is a 14-month low, with the output index touching a 17-month low.

While the composite print may provide some comfort - from the fact that it is still not falling further - there could be troubling signs ahead with manufacturing starting to slow down.

EUR/USD down to 1.2261 now as the dollar continues to gain further on the day. EUR/GBP to 0.8755, weaker as well. EUR/CHF to 1.1970 - range-bound.