Latest data released by Markit - 21 February 2019
Very much mirroring what we saw from the German reading as the manufacturing print slumps into contraction territory and is the lowest print since May 2013. Of note, output prices hit an 18-month low falling to 52.5 from 53.4 in January and that won't bode well for the inflation outlook as well.
EUR/USD is still off the highs for the day at 1.1350 currently, holding onto gains in more of a relief manner as factory activity in the region has been saved by services for the time being.
