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Germany: Flash PMI Manufacturing shows modest growth in February

Preliminary German PMI Manufacturing increased to 50.1 points in February, from 49.8 points in January, according to data released today by Markit. The result is slightly below market consensus of 50.5 points.

PMI Services slid to 54.1 points in February, following a 55.7 point reading the previous month and below expectations of 55.5.

Forex: EUR/USD dives after German PMI

Despite a PMI pace above 50.0 in Germany, the EUR/USD is diving to new lows as investors digest Markit PMI data. From 1.3260, the pair is extending below 1.3240, already down to 1.3220.
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Forex: EUR/JPY tumbles on Markit PMIs

Still ahead of EMU flash February PMI, investors are already pricing in French and German data. Already down below its opening price since early in the day, the European session is allowing the EUR/JPY to tumble steadily below the 124.00 mark towards. For now, the daily low is 123.20.
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