Preliminary February manufacturing and services surveys from Markit
- Lowest since Sept 2017
- Prior was 54.9
- Services PMI 56.2 vs 54.3 expected
- Highest since June 2018
- Prior services PMI was 54.2
- Composite index 55.8 vs 54.4
Manufacturing was a touch soft but the services number was strong. With the vast majority of the US economy centered on services, the report is more positive than negative. The FX market hasn't made any move but that could change with the ISM non-manufacturing numbers are out at the end of the month.
