BREAKING: EUR drops slightly after services PMI revisions

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Final services PMI readings for May from European countries were released this morning. Revised data from France and Germany, as well as whole euro area, showed lower PMI readings than flash releases. Releases from Spain and Italy also missed expectations and came in lower compared to a month ago. Nevertheless, services sector in all major European economies is still in expansion with PMI readings above 50 pts threshold.

Spain: 56.7 vs 56.8 expected (57.9 previously)
Italy: 54.0 vs 57.0 expected (57.6 previously)
France: 52.5 vs 52.8 in first release (54.6 previously)
Germany: 57.2 vs 57.8 in first release (56.0 previously)
Euro area: 55.1 vs 55.9 in first release (56.2 previously)

EUR moved slightly lower on those releases with EURUSD looking back towards daily lows in the 1.0682 area. Equity indices did not saw any major reaction to PMIs today.

EURUSD at 5-minute interval. Source: xStation5

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