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Forex Flash: Little scope for surprises in final reading of February Services PMI – TD Securities

TD Securities analysts have their eyes on the services PMI data for February, but as the flash readings had the bigger downside surprises, little change is expected from the final estimates released today. “As was the case with the manufacturing PMIs, we’ve gone from a trend of mostly downward revisions to more upward revisions on average heading into 2013, and seeing another small nudge higher here would make the ECB a little more comfortable with leaving rates on hold at this week’s meeting and waiting to see how the recovery progresses”, wrote analyst Alvin Pontoh.

Forex: EUR/USD higher despite Spanish PMI

The shared currency is eying 1.3055/60 on Tuesday despite the services PMI print in Spain fell to 44.7, below estimates at 46.0 and January’s print at 47.0...
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Forex: EUR/GBP falls to 0.8612/13 after Spanish PMI

The EUR/GBP has recently fallen off its session highs of 0.8634 during European trading, on the heels of Spanish data, the first in a line of such releases today. The pair fell nearly 20-pips in recent moments to cross over into negative territory at 0.8612/13.
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