The EUR/USD exchange rate was shaken sligtly over the course of Thursday, when several PMI reports for the Euro zone indicated that fresh growth momentum occured. The pair jumped 16 base point or 0.13% to the 1.18426 on the first PMI data for France.
Markit releases pointed to the Euro zone’s businesses expansions, which was confirmed by stronger-than-anticipated figures. France was the strongest performer with the services PMI jumping to 60.2 versus 57.2 expected. Overall, the Index for the services industry in the Euro zone edged higher to 56.2, remaining above the 50.0 level indicating expansion in the industry. The report provided encouraging signs for the ECB to upgrade growth forecasts for 2017 and 2018 years.
