Latest data released by Markit/ADACI - 4 January 2019
- Prior 50.3
- Composite PMI 50.0 vs 49.3 expected
- Prior 49.3
The composite reading recovers back from contraction territory to be neutral following two months of prints below the 50.0 level. The services print was also better and that should provide some relief that the Italian economy isn't totally gone just yet.
Nonetheless, let's see if the improvement keeps up in 2019 or if this is just a bit of temporary relief. EUR/USD holds steady at 1.1412 while EUR/GBP is near the lows at 0.9006 as the pound continues to push forward with gains on the day.
