actual 51.3, previous 51.6
The event is the Services Purchasing Managers' Index (PMI) for the European Union (EU) for the month of January. The actual value reported is 51.3, which is slightly lower than the previous value of 51.6. The estimate was 51.4, so the actual value came in slightly below expectations.
The Services PMI is a key economic indicator that measures the performance of the services sector in the EU. A PMI value above 50 indicates expansion in the sector, while a value below 50 indicates contraction.
Given that the actual value of 51.3 is still above 50, it suggests that the services sector in the EU is still expanding, albeit at a slightly slower pace compared to the previous month. The impact of this event on the EUR currency is considered medium, as it provides insights into the overall economic health of the EU.