The economic clock is expected tick louder on Thursday, with the Eurozone manufacturing and services Purchasing Managers` Indexes data due to be released. The euro-area PMIs are forecasted to show positive feed about the bloc's manufacturing and services activity. The euro area's economy, which grew in the third quarter, will welcome the latest piece of updates that will most likely show signs of stabilization in the 18-nation economy. Traders will closely weigh the PMI update, as the market looks for more confirmation that Europe's recession has ended, two days after latest forecast report from the International Monetary fund (IMF) showed While Germany – the largest eurozone economy – is forecast to expand by 1.6 percent this year and 1.4 percent in 2015. For France the growth prediction is just 0.9 percent in 2014 due to policy uncertainty. That is supposed to rise to 1.5 percent in 2015. - France preliminary PMI Manufacturing probably rose to 47.5 vs. 47.0 - France preliminary PMI Services expected at 48.1 vs. 47.8 - Germany advanced PMI Manufacturing forecasted at 54.6 from 54.3 - Germany advanced PMI Services likely rose to 54.0 from 53.5 - Eurozone advanced PMI Manufacturing likely edged up to 53.0 vs. 52.7 - Eurozone advanced PMI Services probably rose to 51.4 vs. 51.0 - Eurozone advanced PMI Composite estimated at 52.5 vs. 52.1 The trend on euro-zone PMIs is pointing up, though still modestly. A strengthening upturn in the manufacturing and services sector is helping the euro area recovery become firmly established. The upturn in the Eurozone services sector economy gained momentum in December, although the pace of expansion remained modest and eased to a four-month low showing recovery remains modest and frail overall. Manufacturing sector continued to lead the recovery in December, with the fastest pace of growth since May 2011 . A final reading of the manufacturing PMI, for the euro zone, rose to 52.7 in December, up from the 51.6 reading in November. The recovery in the Eurozone service sector was extended to five months in December at 51.0. Germany's factory activity echoed the growth in the euro zone`s manufacturing sector, with its PMI hitting a 30-month high of 54.3 in December. However, the French manufacturing sector continued to contract with its PMI dropping to a seven-month low of 47.0 in December. As of 09:21 GMT+2, the EURUSD pair was trading at $1.35452 after opening at $1.35456 . The pair so far hit a session high $1.35564 after falling to a session low of $1.35301 .
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