Latest data released by Markit - 21 February 2019

  • Prior 51.2
  • Services PMI 49.8 vs 48.5 expected
  • Prior 47.8
  • Composite PMI 49.9 vs 48.9 expected
  • Prior 48.2

The first signs of a rebound is coming and the headline nudges the euro a little higher. EUR/USD gets a lift from around 1.1340 to a high of 1.1360 on the back of the release here. Let's see if the German reading later will see similar sentiment. As mentioned earlier, the euro has the element of surprise working for it so that could help with gains here - even if it may just be temporary.