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23 Apr 2014
It’s PMI-day in the euro area – Danske Bank
FXStreet (Edinburgh) - In the data front, today’s manufacturing and services PMI readings would be the most relevant events in Euroland, according to Pernille Nielsen, Analyst at Danske Bank.
Key Quotes
“Today focus will be on global PMIs. We forecast euro manufacturing PMI to decline slightly after it peaked at 54.0 in January”.
“The development in the order-inventory balance does not point to further improvement and the uncertainty connected with the situation in Ukraine is likely to have affected business sentiment in the euro area in April”.
“On the other hand, new export orders could start to stabilise as US data have been stronger going into Q2 while the Chinese manufacturing PMI appears to have bottomed”.
Key Quotes
“Today focus will be on global PMIs. We forecast euro manufacturing PMI to decline slightly after it peaked at 54.0 in January”.
“The development in the order-inventory balance does not point to further improvement and the uncertainty connected with the situation in Ukraine is likely to have affected business sentiment in the euro area in April”.
“On the other hand, new export orders could start to stabilise as US data have been stronger going into Q2 while the Chinese manufacturing PMI appears to have bottomed”.