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Germany: PMI Services rises to 55.7 in January

German PMI Services climbed to 55.7 points in January, from 52.0 points in December, according to data released today by Markit. Economists expected slightly less increase to 55.3 points.

Forex: EUR/USD at 1.3530 after EMU PMI Composite

The EUR/USD keeps on bouncing from the downside pressure earlier, that sent it to 1.3458 low at 07:00 GMT. As Markit PMI Services data is released, the pair rises. Already at 1.3525. The EMU PMI Composite rose from 47.2 to 48.6 in January, beating consensus of 48.2. Services PMI came in at 48.6 too.
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Forex: USD/CHF eases to 0.9086/88 after PMI data

The USD/CHF has continued its consolidation Tuesday morning, as its daily maximum of 0.9117 looks like a distant memory. The pair’s gains have evaporated across the European session and in the aftermath of PMI data the cross is trading at the 0.9084/85 level in these moments.
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