Latest data released by Markit/BME

  • Prior 56.9
  • Services PMI 53.9 vs 52.2 expected
  • Prior 52.1
  • Composite PMI 54.2 vs 53.4 expected
  • Prior 53.4

Again, another similar theme in the German readings as it was for the French readings earlier. Lower manufacturing print but higher than expected services and composite prints. That will continue to underpin the euro and European equities on the day.

EUR/USD touches a high of 1.1674 on the release and trades near the highs now at 1.1668. With Italian assets also improving on the day, the stars are aligning for a stronger euro.