|09-03-2014, 04:00 PM||#1|
European markets await euro-area PMIs data, ECB eyed
The economic clock is expected tick louder on Tuesday, with the final Eurozone services Purchasing Managers` Indexes (PMI) readings due to be released. The euro-area PMIs are forecasted to show negative feed about the bloc’s activities in August.
What is expected for the upcoming release?
Traders will closely weigh the PMI update, as the market looks for more confirmation that Europe’s recovery has began. The trend on Eurozone PMIs is pointing down.
- France PMI Services expected at 51.1 from 50.4 a month ago
-Germany PMI Services likely fell to 56.4 from record high of 56.7 in July
- Eurozone PMI Services probably declined to 53.5 from high hit at 54.2
Earlier this week, data showed manufacturing growth slowed to a 13-month low in August only days ahead of the European Central Bank meeting on Thursday.
The final Markit`s Eurozone Manufacturing Purchasing Managers` Index (PMI) dipped to 50.7 in August, down from 51.8 in July.
Manufacturing PMI for Germany, Russia`s biggest trade partner in the EU, fell to an 11-month low of 51.4. Manufacturing activities in the bloc`s second-largest economy, France, the PMI fell to 46.9.
ECB rate decision in coming days
The European Central Bank decided in June to cut its key interest rates, while the bank president Draghi has hinted that the bank would intervene by introducing new measures if inflation outlook worsened.
Inflation data released last week showed CPI estimate for the year ended August dipped to 0.3 percent, it weakest level since October 2009, from 0.4 percent in July.
As of 09:14 GMT +3, euro fell $1.31377 after opening at $1.31313. The EURUSD pair is so far set an intraday high at $1.31404 and low at $1.31226.
|مواقع النشر (المفضلة)|
|الذين يشاهدون محتوى الموضوع الآن : 1 ( الأعضاء 0 والزوار 1)|
|أدوات الموضوع||إبحث في الموضوع|
|انواع عرض الموضوع|
|الموضوع||كاتب الموضوع||المنتدى||مشاركات||آخر مشاركة|
|European markets opens higher amid increasing QE hopes||Hazem Ahlawy||Forex News||0||09-03-2014 05:15 AM|
|Euro area economic confidence drops more than forecast in August||Hazem Ahlawy||Forex News||0||08-28-2014 03:46 PM|
|EU Preview: Markets Await Eurozone PMIs Data, UK Retail Sales Report||Hazem Ahlawy||Forex News||0||08-21-2014 03:59 PM|
|Euro Gains Ground Even After GDP Data||Hazem Ahlawy||Forex News||2||08-15-2014 09:47 AM|
|EUR/USD Aug. 14 – Euro Gains Ground Despite Sluggish GDP Data||Hazem Ahlawy||Forex News||1||08-15-2014 09:47 AM|