Flash: European PMIs head higher - Societe Generale

FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale writes, “I'm not sure if Sweden is leading indicator of much beyond anti-gnome advertising, but they kicked off Europe's PMIs on a positive note.”

He adds that upside surprises in the UK, Norway and the US would tell a tale of doing better than the Eurozone. Looking ahead he comments that the US figures dictate today's tone but strong data increases pressure or Treasuries and therefore on emerging markets and commodities, and that's the risk for the week. He writes, “Position clearing on Monday, equity bulls making an outing on Tuesday perhaps, but bond market blues driving markets by the second half of the week.”