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Mixed US February flash PMI data fails to dent Nasdaq 100
The US flash February PMI data has just been released. Now ahead of this all the US stock markets opened higher today. The Nasdaq 100 resumed live trading at 17,857, up from the close last night at 17,478. The Dow Jones reopened at 38,845, which was a record opening level for the index, but just short of the all time record high, at 38,927. So the US markets are fixated with tech and NVIDIA leading that, but this PMI data should not be ignored. The markets were expecting slightly lower readings this time and it was mixed, with a beat on manufacturing (51.5),but a miss on services (51.3). Overall though this is not really bad data, but it has pushed the dollar off its highs. The USD/JPY has dropped back below 150.50 again and the EUR/USD has just lifted from a session low at 1.0803, to around 1.0820. The Nasdaq 100 remains undaunted though, currently close to session highs, at 17,895
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