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Euro Ignores Upbeat PMI Data, Focus on ECB Monetary Policy Meeting

Euro Ignores Upbeat PMI Data, Focus on ECB Monetary Policy Meeting

2014-03-05 09:37:00
David Maycotte,
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Talking Points:

  • Final Eurozone Composite PMI 53.3 in Feb vs. 52.7 Flash Estimate
  • Euro Unchanged vs U.S. Dollar After Data Crossed the Wires
  • Spotlight Now on This Week’s European Central Bank Meeting

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The final revision of February’s Eurozone Composite Purchasing Manager Index (PMI) beat initial estimates as manufacturing- and service-sector activity growth accelerated to a 32-month high. The final Eurozone Composite PMI output came in at 53.3, up from 52.9 in January and earlier estimates calling for 52.7. Following the release the Euro returned to familiar overnight ranges as traders ECB monetary policy meeting.

EUR/USD 5-Minute Chart. March 5, 2014

Euro_Ignores_Upbeat_PMI_Data_Focus_on_ECB_Monetary_Policy_Meeting_body_Picture_1.png, Euro Ignores Upbeat PMI Data, Focus on ECB Monetary Policy Meeting

Charted created by David Maycotte using Marketscope 2.0.

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to instructor@dailyfx.com.

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