Markit manufacturing PMI for Feb (Prelim) 55.9 vs. 55.5 expected

Services PMI 55.9 vs. 53.7 expected.

• The Markit manufacturing comes in better than expected at 55.9 vs 55.5. Last 55.5.
• The services PMI also beats at 55.9 vs. 53.7 expected. Last 53.3..
• The composite index comes in at 55.9 vs 53.8 last month
• New orders composite 58.1 vs 56.3
• manufacturing new orders index 57.8 versus 56.8
• employment index for manufacturing 55.8 versus 54.8 last month
• service sector PMI highest since August
• service sector new business index at highest since March 2015
• US manufacturing sector PMI at highest since October 2014
• manufacturing new orders index highest since October 2014

Good stuff from the PMI data

The USDJPY has moved higher and away from the 200 hour MA at 107.30 (see chart below).