Daily digest market movers: EUR/USD attempts to re-enter upper bound of range on US PMI miss

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  • Pan-European Core HICP inflation came in above expectations for the year ended February, printing at 3.1% YoY versus the forecasted decline to 2.9% from 3.3%.
  • Headline YoY HICP inflation slipped to 2.6% versus the forecast 2.5%, previously 2.8% .
  • February’s US ISM Manufacturing PMI slips to 47.8 versus forecasted increase to 49.5 from previous 49.1.
  • The University of Michigan’s Consumer Sentiment survey index for February also slipped to 76.9, down from the steady forecast of 79.6.
  • ISM Manufacturing Prices Paid for February also declined to 52.5, versus the forecast uptick to 53.0 from the previous 52.9.
  • Next week sees another US Nonfarm Payrolls (NFP) Friday with the ADP Employment Change preview slated for Wednesday.
  • The European Central Bank’s (ECB) latest rate call is also coming next week, slated for Thursday

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