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EUR/USD lifts following higher European PMI revisions

All the European PMI data revisions have now been released this morning and the general take-away is that all of them have been revised higher. The revisions are perhaps good news, but not necessarily of a lasting impact. Nevertheless, the last one of those, released just now from Germany has helped to cement something of a rebound that was already underway across the major European stock markets. The German services PMI has been revised to 50.3 from 49.8, which means it has crept back into expansionary territory. The EUR/USD was already rising ahead of this data after stalling ahead 1.0450 on the downside and so not breaking any fresh ground seen from yesterday. The EUR/USD is still not making a move beyond 1.05 though (but it might) and so far any rebound is inconclusive. The EUR/USD is just now trading at 1.0483

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