Forex Flash: Little scope for surprises in final reading of February Services PMI – TD Securities

TD Securities analysts have their eyes on the services PMI data for February, but as the flash readings had the bigger downside surprises, little change is expected from the final estimates released today. “As was the case with the manufacturing PMIs, we’ve gone from a trend of mostly downward revisions to more upward revisions on average heading into 2013, and seeing another small nudge higher here would make the ECB a little more comfortable with leaving rates on hold at this week’s meeting and waiting to see how the recovery progresses”, wrote analyst Alvin Pontoh.