Latest data released by Markit - 18 April 2019
- Prior 47.5
- Services PMI 52.5 vs 53.1 expected
- Prior 53.3
- Composite PMI 51.3 vs 51.8 expected
- Prior 51.6
Ouch, these readings are certainly not helping with euro sentiment. Manufacturing is a slight miss on expectations but the services and composite readings overall are softer than expectations and also softer compared to the March readings.
EUR/USD is being dragged lower on the release here to 1.1254 with the dollar and yen staying bid as a result of haven flows. Bund yields and Treasury yields are sinking, resulting in the more risk-off tone as we begin the session.
