Euro Zone Services sector slows, Manufacturing drops, but both beat expectations
EZ flash PMI services came out at 51.5 against the previous 51.6 and beating the expected 50.9.
EZ flash PMI manufacturing came out at 49.7 against the previous 50.4 and the expected 49.5.
EZ flash PMI composite came out at 51.1 in line with the previous 51.1 and higher than the expected 50.0.
Overall the data was seen as positive given it was higher than the expected levels. The EUR/USD rose to day’s high at 1.4486 soon after the release.
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