CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the High risk of losing your money.

Eurozone: Modest relief in PMI – Nordea Markets

2019-06-21 17:45

Anders Svendsen, analyst at Nordea Markets, notes that the Euro-area PMIs rose slightly in June from low levels, driven by a substantial improvement in France and some improvement in German manufacturing. ECB still needs clear improvement in H2 to regain confidence that inflation will converge to its target.



Key Quotes



“Euro area:




  • Composite PMI rose marginally to 52.1 from 51.8, close to expectations

  • Manufacturing PMI was little changed at 47.8, close to expectations



Germany:




  • Composite PMI unchanged at 52.6, close to expectations

  • Manufacturing PMI rose almost one index point to 45.4, better than expected



France:




  • Composite PMI substantially higher at 52.9 up from 51.2, much better than expected

  • Manufacturing PMI substantially higher at 52.0 up from 50.6, much better than expected.”



“Euro-area – modest relief



The stabilisation in the German manufacturing sector as well as the clear improvement in France should give some modest relief to Euro-area growth concerns.



The PMI levels still point to growth just below potential but at least and clear improvement in the second half of the year is probably still required for the ECB to regain confidence in the convergence of core inflation towards the inflation target.”



 


This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.

Economic news

    Exchange Rates

    GBPUSD +0.69% 1.29885
    EURUSD +0.57% 1.17845
    XAUUSD +0.31% 1905.4
    XTIUSD +0.52% 41.33
    NAS100 -0.26% 11825.9
    US30 -0.21% 28537.4