US flash PMI indices for February were released today at 2:45 pm GMT. Market was expecting a small deterioration in manufacturing and services sectors. However, both indices were expected to remain above 50 pts threshold indicating expansion.
Actual report turned out to be mixed - services index missed expectations while manufacturing index beat expectations. Services miss outweigh manufacturing beat and led to a miss in composite index.
USD weakened following the release with EURUSD bouncing off the 1.08 area. Wall Street indices continue to gain after a solid earnings report from Nvidia push company's stock over 10% higher and supported market sentiment.
US, flash PMI indices for February
- Manufacturing: 51.5 vs 50.5 expected (50.7 previously)
- Services: 51.3 vs 52.0 expected (52.5 previously)
- Composite: 51.4 vs 51.8 expected (52.0 previously)
Source: xStation5
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