24 Jul 2014
PMIs will be the main events in Euroland – Danske Bank
FXStreet (Edinburgh) - Jens Pedersen, Analyst at Danske Bank, remarks the significance of today’s PMI releases in the euro area.
Key Quotes
“Overall, we expect to see a slight improvement in euro area PMIs for July”.
“In our view it will probably be a bit more pronounced in the service sector, where we expect a rise to 53.1 from 52.8 in June, while lagged effects of the slowdown in China and the US earlier this year still weigh on activity in the manufacturing sector – we forecast a small rise to 51.9 from 51.8 in June”.
“Regarding the US manufacturing PMI, we forecast a rise to 58.0 from 57.3 in June, thus indicating a further pickup in manufacturing activity in the US”.
Key Quotes
“Overall, we expect to see a slight improvement in euro area PMIs for July”.
“In our view it will probably be a bit more pronounced in the service sector, where we expect a rise to 53.1 from 52.8 in June, while lagged effects of the slowdown in China and the US earlier this year still weigh on activity in the manufacturing sector – we forecast a small rise to 51.9 from 51.8 in June”.
“Regarding the US manufacturing PMI, we forecast a rise to 58.0 from 57.3 in June, thus indicating a further pickup in manufacturing activity in the US”.