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 in February.

Eyes will remain on the flow of economic data from the 18-nation region, following the surprising statements from the European Central Bank (ECB) Mario Draghi in February, saying rates will remain low or even lower till March amid hopes of better economic data in the months ahead

- France preliminary PMI Manufacturing probably rose to 49.5 from 49.3

- France preliminary PMI Services expected at 49.4 from 48.9

- Germany advanced PMI Manufacturing was probably rose to 56.3 vs. 56.5

- Germany advanced PMI Services likely edged up 53.4 from 53.1

- Eurozone advanced PMI Manufacturing likely steadied 54.0

- Eurozone advanced PMI Services probably rose to 51.9 vs. 51.6

- Eurozone advanced PMI Composite estimated at 53.1 vs. 52.9

Data released last week showed Eurozone economic recovery picked up speed in the final quarter of 2013, expanding  0.3 percent in the three months to December after 0.1 percent expansion a quarter ago, while annual Gross Domestic Product (GDP) rose 0.5 percent, above market expectations of a 0.4 percent rise.

The expansion was led by Europe`s largest economy, Germany, which benefited from a rise in exports. Germany has led the bloc`s recovery so far with its GDP- which accounts for 30% of the euro zone total- unexpectedly accelerated to 0.4 percent in the fourth quarter.

France - the euro zone`s second economy – also posted better-than-expected growth figures for the last three months of 2013, a welcome surprise for the Continent’s economy as it struggles to break free from a long period of lethargy.

The French fourth-quarter figure, expanded by 0.3 percent in the period from October through December compared with 0.1 percent contraction in the previous three months and was slightly better than the 0.2 percent economists had been expecting.

In the FX market, the euro traded higher against the U.S. dollar, adding 0.21 percent so far to trade at 1.37597 after the pair kick started the session at 1.37315. The EURUSD pair has so far touched a high of 1.37617 and a low of 1.37278.

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