In European trading, the euro rose against the US Dollar, trading above the 1.0700 mark.
The EUR/USD currency pair has soared in the European session, following news of Germany raising the debt ceiling in order to increase military and infrastructure spending. In Europe, Producer Price Index data was released with data higher than expected (1.4% expected vs 1.8% realised). In the US, ADP Nonfarm Employment Change for February (144,000 exp), S&P Global Services PMI for February (49.7 exp) and ISM Non-Manufacturing PMI for February data (53.0 exp) will be posted at 13:15 GMT and 15:00 GMT respectively.