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German HCOB Services PMI (Dec) 52.7 vs. Exp. 52.6 (Prev. 52.6)

The German Services PMI came in slightly above expectations, indicating a stable services sector.

Newsquawk StaffNewswiresPublished On the live feed at — 13 more headlines followed before this page went public
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German Saxony CPI YoY (Dec) 1.9% Y/Y (Prev. 2.2%)

[MARKET UPDATE] Crude futures rise despite a lack of clear catalysts; price action elsewhere stable at the time of writing; WTI Feb +0.2%, Brent Mar +0.3% last

German HCOB Services PMI (Dec) 52.7 vs. Exp. 52.6 (Prev. 52.6)

French HCOB Services PMI (Dec) 50.1 vs. Exp. 50.2 (Prev. 50.2)

French HCOB Composite PMI (Dec) 50.0 vs. Exp. 50.1 (Prev. 50.1)

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  • "The higher costs are likely to be primarily the result of continued above-average wage increases. This is because most service activities are relatively labour- and wage-intensive. This cost problem is unlikely to disappear in the coming year, as the main cause is demographic change and the resulting labour shortage, which continues to prevail in many sectors despite the generally weak economy."
Context

However, ongoing issues like rising labor costs and demographic challenges suggest that inflationary pressures may persist, which could influence the ECB's policy path moving forward. Traders should watch for how this might impact the EUR and broader risk sentiment.

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