Forex News

Euro area private sector’s expansion eases in February


Euro area private sector eased its expansion in February, according to the flash Purchasing Managers’ Index released on Wednesday.

Markit’s Composite PMI of manufacturing and services edged down to 57.5 this month from 58.8 a month earlier, coming below forecasts of 58.6.

Although the reading is still comfortable hovering in the expansion zone near record high, it could provide an early sign to policymakers as they revise their monetary stance.

As of 09:14 GMT, the euro continued to trade lower at $1.2318, as it remained pressured since hitting a three-year top at 1.2555 on February 16.

Share Article