Eurusd relatively volatile after the latest flash manufacturing and services PMI numbers from the US and Europe. It initially jumped to a high of 1.08980 and then pulled back as traders wait for the upcoming ECB decision and US economic data. The latest numbers by S&P Global showed that European manufacturing sector continued to contract in January as companies complained about inflation and supply chain issues. In Europe, the manufacturing PMI rose to 46.5, better than the expected 44.7. Despite the improvement, it remained below 51, meaning that the contraction phase continued.