German PMIs improves
The German PMIs for manufacturing and services have both come in positive this morning, rising to 49.0 and 54.1 respectively. French sectors also expanded in a surprise to markets, which confirmed the view that Europe's two major economies are emerging from recession.
For the region, the eurozone PMI for manufacturing and services are at a more modest 47 and 49 resepectively, just below the 50 threshold for expansion. This news sent the euro to a weekly high against the US dollar and also boosted French and German stock markets.
Euro currency exchange rates are currently at USD1.4314 and GBP0.8655.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.