BREAKING: EURUSD gains after US PMI data 📌

02:45 PM GMT, United States - PMI Data for February:

• S&P Global Composite PMI: actual 50.4; previous 52.7;
• S&P Global Services PMI: actual 49.7; forecast 53.0; previous 52.9;
• S&P Global Manufacturing PMI: actual 51.6; forecast 51.3; previous 51.2;

Flash PMI from the US unexpectedly declined. In the first reaction after the publication, we observe growth on the EURUSD pair. The data indicate, on the one hand, worse sentiment in the services sector, and on the other hand, an improvement in sentiment in the industry.

The US services sector has slumped to its lowest level since early 2023, signaling growing uncertainty, stalled business activity, and rising prices. Optimism has faded from near three-year highs, with companies citing concerns over government policies, tariffs, and geopolitical risks. Sales are being hit by political uncertainty, and while inflation remains muted, service-sector margins are under pressure. Manufacturing costs are rising due to tariffs, which could either drive inflation higher or squeeze corporate profits further. Economic growth projections have slowed sharply from over 2% last year to just 0.6% in February, contributing to a weaker US dollar.