- Eurozone Manufacturing PMI dropped to 46.1 in February, missing estimates of 47.0
- Bloc’s Services PMI returned to expansion in February at 50.0 vs. 48.8 anticipated.
- EUR/USD stays directed toward 1.0900 after German, Eurozone PMI data.
The Eurozone manufacturing sector activity contracted further but the services sector returned to expansion in February, the latest figures from the HCOB’s latest purchasing managers index survey showed Thursday.
The Eurozone Manufacturing Purchasing Managers Index (PMI) arrived at 46.1 in February, as against the expectation of 47.0 and the 46.6 seen in January. The index fell to a two-month low.
The bloc’s Services PMI rose to 50.0 in February from 48.4 in January, clinching a fresh seven-month high while beating the estimate of 48.8.
The HCOB Eurozone PMI Composite advanced to 48.9 in February vs. 48.5 expected and January’s 47.9 figure. The index hit an eight-month top.
FX implications
EUR/USD is consolidating gains to near 1.0970 after mixed Eurozone PMIs. The spot is up 0.44% on the day, at the press time.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.42% | -0.48% | -0.34% | -0.47% | -0.06% | -0.44% | -0.40% | |
| EUR | 0.42% | -0.07% | 0.04% | -0.06% | 0.37% | -0.01% | 0.03% | |
| GBP | 0.48% | 0.07% | 0.12% | 0.01% | 0.43% | 0.06% | 0.09% | |
| CAD | 0.34% | -0.05% | -0.11% | -0.11% | 0.32% | -0.06% | -0.02% | |
| AUD | 0.48% | 0.06% | 0.00% | 0.13% | 0.42% | 0.05% | 0.08% | |
| JPY | 0.06% | -0.36% | -0.44% | -0.29% | -0.44% | -0.37% | -0.32% | |
| NZD | 0.43% | 0.01% | -0.06% | 0.06% | -0.05% | 0.37% | 0.04% | |
| CHF | 0.40% | -0.02% | -0.09% | 0.04% | -0.08% | 0.33% | -0.04% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Source: https://www.fxstreet.com/news/eurozone-preliminary-manufacturing-pmi-declines-to-461-in-february-vs-470-expected-202402220903