EUR rebounds after better PMI data from Europe and the UK

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Most of the services PMI data readings came in higher than initial readings, but also higher than expectations, which directly weakened the USD against the EUR and GBP in the short term.

Spain: 50.5 (expected: 49.6; previous: 49.3)
Italy: 49.9 (expected: 50; previous: 49.8)
France: 44.4 (expected: 43.9; previous: 46)
Germany: 50.3 (expected: 49.8; previous: 47.3)
Eurozone: 48.7 (expected: 48.4; previous: 47.9)
United Kingdom: 49.3 (expected: 49.5; previous: 47.2)

EURUSD is approaching the 1.0500 level after good readings.

Source: xStation5

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