Latest data released by Markit - 24 January 2020
Despite some green shoots observed in the manufacturing sector - as exemplified by Germany earlier - overall economic conditions remain tepid in the euro area. The services sector showed a decline and the composite reading stayed flat compared to December.
The fact that manufacturing conditions continue to sit in contraction territory isn't too helpful as well. In short, while there are some suggestions of things getting better, it still isn't enough to point towards a more solid recovery for the time being.
EUR/USD is still keeping weaker around 1.1045 currently, failing to take heart in the more upbeat German readings earlier.
