BREAKING: European services PMI data surprises to the upside

• Eurozone: services PMI index for September 51,4 points. (forecast: 50.5 points; previous: 52.9 points).
• Germany: PMI index for services for September 50.6 pts. (forecast: 50.6 points; previous: 51.2 points).
• France: PMI index for services for September 49.6 pts. (forecast: 48.3 points; previous: 48.3 points).
• Italy: PMI index for services for September 50.5 pts. (forecast: 50.2 points; previous: 50.8 points).
• Spain: PMI index for services for September 57.0 pts. (forecast: 54.0 points; previous: 54.6 points).

Overall, the PMI data are performing well. Most European economies are breaking out above the contraction zone, and the data themselves are also above expectations. The EURUSD pair is trading under slight downward pressure today, nevertheless, after the readings themselves we do not notice an exaggerated reaction.

Source: xStation