EUR/USD Trading Higher; German Composite PMI Rises, Retail Sales Decline

EUR/USD is trading at 1.0542, up 0.035. Markit's German February services PMI (purchasing managers survey) rose to 54.4 from 53.4 in January. Markit's German February composite PMI (purchasing managers survey) rose to 56.1 from 54.8 in January. Germany's Federal Statistical Office reported that January retail sales fell 0.8 percent versus a flat reading in December. Year over year German retail sales rose 2.3 percent during January versus a 0.4 rise in December.