- Analytics
- News and Tools
- Market News
- Eurozone PMIs amongst market movers today – Danske Bank
Eurozone PMIs amongst market movers today – Danske Bank
According to analysts at Danske Bank, today's main event will be the release of manufacturing and services PMIs out of the euro area.
“Before the meeting on Thursday, today's euro area PMIs will give ECB some vital insights into how the economy started into Q3 after the weak finish in Q2. A recent setback in global trade volumes and order-inventory leaves us to expect further downside in manufacturing PMIs, which we see falling to 47.2 in July. The lot of the service sector, on the other hand, continues to hold up well, and we see scope for a further small improvement in Services PMI to 53.9 in July as new incoming business remains on an upward trend. That should keep the euro area economy out of recession in the near-term, but for the manufacturing sector the air is getting thinner. We also get manufacturing and services PMIs out of the US. US Manufacturing PMI has been falling to the lowest levels in three years (last reading 50.6, consensus 51.0) and a disappointing reading may see markets yet again price in a higher probability of a cut larger than 25bp at the FOMC meeting later this month. Service PMI is also close to three-year lows”.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
