UK Services PMI (Jan) 56.0; better than the 53.5 expectation and 54.0 prior showing.
Sterling firmer on the release.
China’s Premier Wen says China has no ability, or intentions, to “buy Europe”.
Euro lower on the release.
Eurozone Services PMI (Jan) 50.4 vs 50.5 expected.
German Services PMI (Jan) 53.7 vs 54.5 expected.
French Services PMI (Jan) 52.3 vs 51.7 expected.
Italian Service PMI (Jan) 44.8 vs 45.1 expected.
Greece sees its 2011 budget deficit at 9.1%-9.4% GDP, slightly smaller than the previous estimate.
Not much going on as the market waits for U.S non-farm.
The FTSE, CAC, and DAX are down slightly with not much going on in the market until the Eurozone final services PMI release in a little over 30 minutes. We are seeing a wedge in the EUR/USD as the pair trades around the 100 hour moving average. As we move later in the night we’ll see weather it is support or resistance that holds.



