Final Eurozone April services and composite PMI data 4 May 2016

  • 53.2 flash
  • composite 53.0 as exp/flash

Markit reveal that firms cut prices at their steepest rate for 14 months but say the final PMI data shows EZ GDP growing at 1.5% at the start of Q2

" While still tepid the sustained EZ growth contrasts with slowdowns in the US and UK and suggests the ECB's more aggressive stimulus is helping to drive a steady recovery"

USD demand striking again and EURUSD is down to 1.1484 around session lows but EURGBP and EURJPY both higher at 0.7916 and 122.93