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Ahead of the euro-zone’s final Q2 GDP data, Euro trading higher

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For the 24 hours to 23:00 GMT, the EUR declined 0.13% against the USD and closed at 1.1143, after the final reading of the Euro-zone’s Markit services PMI unexpectedly dropped to a level of 52.8 in August, compared to market expectations for it to remain steady at the preliminary reading of 53.1.

In the previous month, the services PMI had registered a reading of 52.9. Meanwhile in Germany, final services PMI surprisingly fell to a 37-month low level of 51.7 in August, from a flash reading of 53.3 and compared to the previous month’s level of 54.4.

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Paul

The author Paul