Wow! Did we just see the euro rally on the data?

I can't remember the last time we saw the euro actually move Eurozone data

A very decent round of PMI's has actually caused the euro to rally. Unbelievable!!

EURUSD 15m chart

Ok, it's only gone up 30 odd pips but considering we've seen bigger data numbers and it hasn't moved 5 pips, this is groundbreaking.

In all seriousness, we shouldn't get excited on one move like this but it's going to be worth watching to see if the data moves the price from now on. Sentiment is starting to turn towards looking for a tightening ECB and the data is where we'll see that sentiment play out.