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All the eyes on PMIs today – Danske Bank

FXStreet (Edinburgh) - Flemming Nielsen , Senior Analyst at Danske Bank, remarks the importance of today’s PMI releases in Euroland and the US economy.

Key Quotes

“Today’s Flash PMIs in Germany, France and the euro area will give more clues about the slowdown in the euro area”.

“For the euro area we look for a slight rise in manufacturing PMI driven by Germany, as the pick-up in US and Chinese growth in Q2 should start to feed through to exports. For service PMI we expect a slight decline”.

“In the US Markit PMI is expected to stay flat at a robust level, although there is slight downside risk as retail sales have slowed a bit recently”.

“The US also releases existing home sales where a moderate increase is expected, as the NAHB housing survey points to higher sales activity. US initial jobless claims are also due today”.

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