BREAKING: US Manufacturing PMI above expectations

US Manufacturing PMI (flash) increased to 59.1 in January from 57.1 in December, above analysts’ expectations of 56.5. The reading pointed to the continuing expansion in factory activity since February. The reading pointed to a record expansion in factory activity, preliminary estimates showed. Both production and new exports orders where the highest since 2014 and job creation was the strongest in 2 years.

US Services PMI (flash) rose to 57.5 in January from 54.8 in the previous month, above market consensus of 53.6. The latest reading pointed to the fourth consecutive expansion in the services sector.

EURUSD saw a relatively small reaction to today’s data releases. The most popular currency pair continued to trade around the 1.2160 level. Source: xStation5

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