Euro Skyrockets Amid Surprising European Services PMI News

Just now, the Markit released a string of services PMI and the surprising part it, all of them did exceptionally well. Here's a quick update


Just now, Markit released a string of services PMI and, surprisingly, all of them did exceptionally well. Here’s a quick update:

Spanish Services PMI – Spain’s service sector enjoyed its solid month in terms of activity extension for over a year during March. Strong domestic demand conditions helped to drive new work higher. The services PMI jumped to 56.8 vs. 54.5.

Italian Services PMI – Business activity in Italy’s service division expanded at the fastest pace since September 2018 in March. The PMI figure rose to 53.1 beating 50.9 forecast.

French Final Services PMI rose to 49.1 vs. 48.7. I must say it’s a pretty nice improvement considering all the financial crises France is facing.

German Final Services PMI – Germany’s service sector recorded another month of robust growth in March, according to the latest PMI survey, with the report attributing the upturn to resilient domestic demand. Germany also surprised with 55.4 vs. 54.9 forecast.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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