Mixed data also from Germany: manufacturing PMI jumps to 51.2, back to growth ground and better than expected. However, services PMI slips to 51.4 points, below expectations. Manufacturing has the upper hand despite a miss in the composite figure.
EUR/USD rises to 1.2470, in the high part of the range. The round 1.25 level is key resistance.
Markit was expected to show the manufacturing PMI returning to growth territory: from 49.5 points in the final read for November to 50.4 points in the first read for December. Services PMI was estimated to rise from 52.1 to 52.6 points, within the expansion zone.
EUR/USD traded around 1.2465 towards the publication.
Earlier, French PMIs were mixed: while manufacturing PMI fell short of predictions, we had a beat on services. Both were under the 50 point mark representing contraction.
EUR/USD has been relatively stable amid some other market storms: the collapse in the price of oil and its related currencies eventually dragged stock markets down.
And later, we have business confidence from Germany. See how to trade the German ZEW number with EUR/USD.
