BREAKING: German manufacturing PMI improves, EURUSD above 1.08

German flash PMIs for February were released at 8:30 am GMT. Manufacturing gauge was expected to fall from 45.3 to 44.8 pts but instead it has unexpectedly surged to 47.8 pts. Services index dropped from 54.2 to 53.3 pts (exp. 53.8 pts). French data released at 8:15 am GMT was mixed as well. Manufacturing sector index dropped from 51.1 to 49.7 pts (exp. 50.7 pts) while services gauge jumped from 51 to 52.6 pts. EURUSD is benefitting from the data and makes a break back above 1.08 handle.

EURUSD surged after the release of French and German PMIs. The main currency pair made its way back above the 1.08 handle. Source: xStation5

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