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Aug 18, 2014
Eurozone flash PMI releases the highlight of the week - BNZ
FXStreet (Łódź) - Spiros Papadopoulos from BNZ suggests that the most important event this week in the Eurozone is the release of preliminary August PMI manufacturing, services and composite numbers on Thursday.
Key quotes
"The overall expectation is that they will show declines, with confidence battered by weak economic performance as well as the sanctions placed on Russian businesses and the Kremlin's retaliation in banning EU food imports."
"While PMIs are generally seen as one of the better indicators of short-term GDP growth, it is interesting to note that for the six months to June, the French economy has outperformed the gloomier predictions of the surveys, which means that market reaction to weak French data may be limited."
"There might be more interest in German results after its surprise 0.2% contraction in output in the second quarter."
Key quotes
"The overall expectation is that they will show declines, with confidence battered by weak economic performance as well as the sanctions placed on Russian businesses and the Kremlin's retaliation in banning EU food imports."
"While PMIs are generally seen as one of the better indicators of short-term GDP growth, it is interesting to note that for the six months to June, the French economy has outperformed the gloomier predictions of the surveys, which means that market reaction to weak French data may be limited."
"There might be more interest in German results after its surprise 0.2% contraction in output in the second quarter."