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EUR/USD: PMIs triggering profit-taking

1 month ago   |   By FXCM

Weaker than expected US Markit PMI triggers some profit-taking ahead of the weekend. German business confidence tumbled, while EU data continues to indicate weak growth, Valeria Bednarik from FXStreet reports.
Key quotes
“The German manufacturing index rose to 47.8, better than the previous 45.3, although services output contracted to 53.3. The EU indexes were a bit more encouraging, as both beat the market's forecasts. However, inflation in the Union was confirmed at 1.4% YoY in January. The numbers reflect the fragility of the EU's economy.”
“On a downward trend now, the Markit estimates...
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