Eurozone PMI to receive close scrutiny as economy returns to growth
Date
8/22/2013 6:22:16 AM
(MENAFN– ecpulse) The euro-area PMIs are forecasted to show positive feed about the bloc’s manufacturing and services output, as France expands for the first time in 18 months.
Markets will be anticipating August`s flash readings for the Eurozone PMI due to published later today amid new signs of improvement, after the 17-nation economy escaped six quarters of recession. In the busiest day this week, market consensus calls for the next growth scene: - France Preliminary PMI Manufacturing (AUG) 50.2 vs. 49.7
-France Preliminary PMI Services (AUG) 49.2 vs. 48.6
-Germany advanced PMI Manufacturing (AUG) 51.1 vs. 50.7
-Germany advanced PMI Services (AUG) 51.7 vs. 51.3
-Euro-zone advanced PMI Manufacturing (AUG) 50.7 vs. 50.3
-Euro-zone advanced PMI Services (AUG) 50.2 vs. 49.8
-Euro-zone advanced PMI Composite (AUG) 50.9 vs. 50.5
Traders will closely weigh the Euro-area PMI update, as the market looks for confirmation that Europe’s recession has ended. Last week’s better-than-expected gain in GDP in the second quarter boosted expectations that that longest economic slump in the euro-area history is over. However, the rebound needs to be confirmed through a couple of first-tier economic releases, one of which is the PMI update. A continuation in positive momentum will indicate a bullish trend for the third quarter as well.
Generally, the flash PMI update strongly impacts currencies and stocks, especially the euro. A better-than-exepcted reading could give the single currency a boost possibly towards the pivotal areas of $1.30 against the dollar.
The euro-area PMIs are forecasted to show positive feed about the bloc’s manufacturing and services output, as France expands for the first time in 18 months.
Markets will be anticipating August`s flash readings for the Eurozone PMI due to published later today amid new signs of improvement, after the 17-nation economy escaped six quarters of recession. In the busiest day this week, market consensus calls for the next growth scene:
- France preliminary PMI Manufacturing (AUG) 50.2 vs. 49.7
- France preliminary PMI Services (AUG) 49.2 vs. 48.6
- Germany advanced PMI Manufacturing (AUG) 51.1 vs. 50.7
- Germany advanced PMI Services (AUG) 51.7 vs. 51.3
- Eurozone advanced PMI Manufacturing (AUG) 50.7 vs. 50.3
- Eurozone advanced PMI Services (AUG) 50.2 vs. 49.8
- Eurozone advanced PMI Composite (AUG) 50.9 vs. 50.5
Traders will closely weigh the Euro-area PMI update, as the market looks for confirmation that Europe’s recession has ended. Last week’s better-than-expected gain in GDP in the second quarter boosted expectations that that longest economic slump in the euro-area history is over.
However, the rebound needs to be confirmed through a couple of first-tier economic releases, one of which is the PMI update. A continuation in positive momentum will indicate a bullish trend for the third quarter as well.
Generally, the flash PMI update strongly impacts currencies and stocks, especially the euro. A better-than-exepcted reading could give the single currency a boost possibly towards the pivotal areas of $1.30 against the dollar.
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