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— more to come

Markit’s Manufacturing Purchasing Managers’ Index was expected to drop from 50 – the break-even level 0 to 49.7 points. The Services PMI was projected to slide from 53.9 to 53.4 points. Both indicators rose in January in response to better business sentiment after the elections. The landslide victory of Prime Minister Boris Johnson provided some clarity after substantial Brexit turbulence. 

GBP/USD advanced ahead of the publication and topped 1.29. The US dollar is taking a breather from its gains. 

Coronavirus headlines continue worrying investors all over the world.