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Eurozone final Services PMI crashes to 26.4, Italy at 17.4, EUR/USD pressured under 1.08

Markit’s final Services sector Purchasing Managers’ Indexes have shown worse outcomes than the initial reads. For the whole euro area, the figure stands at 26.4 against 28.4 initially reported. Germany’s statistic is at 31.7, and France at 27.4, both below the original publications.

The first and final read for Italy, the country most hit by COVID-19, hit 17.4 points. Spain’s Services PMI is at 23 points. It seems that the figures are in line with the carnage caused by coronavirus. 

Any score above 50 reflects the expansion and below that level represents contraction. EUR/USD has extended its falls in response, trading below 1.08. US Non-Farm Payrolls are awaited. 

 

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