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03.12.2014 17:00

EUR/USD: Euro trading at 27 month-low against the greenback, British pound steady

Today the euro traded at its weakest since late August 2012 one day before the ECB's policy makers meeting in Frankfurt, where new stimulus measures could be announced by the ECB. France's Services PMI published today declined to 47.9, 0.4 below forecasts whereas Eurozone's Services PMI declined to 51.1, 0.2 weaker than predicted by analysts. Eurozone's Retail Sales for October increased by 0.4%, 0.2% below forecasts whereas Retail Sales on a yearly basis increased 1.4%. Analysts' forecasts predicted a growth of 0.9%.

The British pound is trading slightly stronger after upbeat data on the Purchasing Manager Index on Services. The index rose from 56.2 last month to 58.6 in November beating forecasts of 56.6.

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