German PMI better than expected

German May PMI has come in better than expected. Services 46.0 vs 43.8 in April and median forecast of 44.4. Manufacturing 39.1 vs 35.4 in April and median forecast of 36.9.

EUR/USD steady at 1.3780. Market doesn’t seem to be in any hurry to push the pairing higher. Had two excuses now (French/German PMI ) and neither taken. S&P futures down 3 points, might be reason for reticence.