EMU: PMI Services declines to 46.4 in March

FXstreet.com (Barcelona) - Eurozone PMI Services slid to 46.4 points in March, from 47.9 points in February, according to data released today by Markit. The result is slightly below market consensus of 46.5 points.

PMI Composite fell to 46.5 points in March, following a 47.9 point reading the previous month, as expected.

Apr 4, 2013

Germany: PMI Services drops more than expected in March

German PMI Manufacturing decreased to 50.9 points in March, from 54.7 points in February, according to data released today by Markit. The result is below market consensus of 51.6 points.

Forex: EUR/USD falls on weakening PMI services in Europe

The EUR/USD was holding around 1.2850 until volatile moves in the Yen sent the pair down to 1.2830 area. However, the publication of PMI Services data by Markit triggered a selloff below 1.2800 psychological level, to 1.2785 low as of writing. The French and German figures were expected to fall from 43.7 to 41.9 and 54.7 to 51.6, but actual March PMI Services data points to a drop to 41.3 to 50.9, respectively.