US Markit Feb services PMI 55.9 vs 55.9 exp

US Markit Feb services PMI final reading now out 5 March

  • 55.9 flash
  • composite 55.8 vs 55.9 flash

Move along folks. Nothing to see here. Slight down in final composite but PMIs don’t have the same clout these days even when well wide of the mark. Any reaction to the decent numbers will have been made on the flash readings anyhow.
Every dog has its day eh?
USDJPYposting 105.80 as the option clock ticks down but USD elsewhere unfazed with GBPUSD at 1.3813, EURUSD 1.2315 AUDUSD 0.7735 USDCAD 1.2977
Say Markit:

  • Business activity across the U.S. service sector
    expanded sharply in February, according to the
    latest PMI data. The upturn in output accelerated to
    the fastest since August 2017. In addition, greater
    client demand led to a steep rise in new business,
    which rose at the strongest pace in almost three
    years.
  • Capacity pressures intensified as a result of
    the upswing in demand, with backlogs of work
    accumulating to the greatest extent since March
    2015.
  • Meanwhile, rates of both input and output price
    inflation accelerated, with the former reaching the
    fastest since June 2015.

Full report here
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