French HCOB Services PMI Flash (Jan) 47.9 vs. Exp. 50.5 (Prev. 50.1)

Newsquawk Staff · 23 Jan 2026, 08:35 UTC

What it means

The French HCOB Services PMI Flash for January came in at 47.9, significantly below expectations of 50.5, indicating a contraction in the services sector. This notable miss suggests weakening economic momentum and could complicate the ECB's policy stance moving forward, particularly in terms of rate hikes or inflation outlooks. Traders should consider the implications for the euro and related assets as markets evaluate the risk of a slowdown in the eurozone.

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US Market Open, 6 Nov, 10:48 UTC · what it led with

APAC stocks were pressured; KOSPI slumped 6% following hefty losses in Samsung and SK Hynix.
USD is firmer against all G10 peers awaiting the US NFP report.

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