Latest data released by Markit/BME - 23 April 2018

  • Prior 58.2
  • Services PMI 54.1 vs 53.7 expected
  • Prior 53.9
  • Composite PMI 55.3 vs 54.8 expected
  • Prior 55.1

A beat on all fronts for Germany's preliminary figures. As mentioned earlier in the French figures, it's a much needed beat considering the poor run of form in Eurozone data. This will at least lead the ECB to believe that the poor start to the year is not going to continue further into Q2 - for now that is.

EUR/USD now down to 1.2273 after hitting highs of 1.2293 earlier. EUR/GBP at 0.8765, range-bound for the most part. EUR/CHF similar at 1.1977.