Latest data released by Markit - 24 January 2020

  • Prior 50.4
  • Services PMI 51.7 vs 52.2 expected
  • Prior 52.4
  • Composite PMI 51.5 vs 52.0 expected
  • Prior 52.0

A mild improvement in the manufacturing print but that is largely offset by the poorer services print, which is the more important sector for the French economy.

On the balance of things, that has also brought the composite print lower and that's not really suggestive that economic conditions are back on the rise yet. Let's see what the German print has to say in <15 mins' time. That will be the more crucial one.

EUR/USD is keeping around 1.1053 at the moment, little changed on the day still.