EUR/USD Trading Higher; Italy's GDP Eases, Italian Services PMI Improves

EUR/USD is trading at 1.0542, up 0.035. Markit's February services PMI (purchasing managers survey) for Italy rose to 54.1 from 52.4 in January Italy's National Institute of Statistics (ISTAT) reported that fourth quarter gross domestic product (GDP) eased to a rise of 0.2 percent versus a rise in the third quarter of 0.3 percent. Year over year fourth quarter Italian GDP rose 1 percent, the same as the third quarter.