fxs_header_sponsor_anchor

News

Eurozone: PMIs and Draghi in focus - TDS

In view of analysts at TDS, flash PMIs for August in addition to the ECB President Draghi’s speech at Jackson Hole are going to be the key events as far as Eurozone is concerned.

Key Quotes

“With the most recent ECB minutes expressing concern over the possibility of an overshoot in the EUR, we’ll be watching for any indication that the latest leg higher in the EUR is starting to worry the manufacturing sector in particular. We look for the German manufacturing PMI to edge another point or so lower, falling to 57.0 (mkt 57.6), making for the sharpest two-month fall since early 2016. We’re closer to consensus for French services, looking for a steady reading of 56.0 (mkt 55.8).”

“Also this morning, ECB President Draghi speaks at 8am BST as he gives the keynote speech at the Lindau meeting on economic sciences. While Jackson Hole on Friday is the bigger focus for markets, this morning will be Draghi’s first chance to update his thinking since last month’s ECB meeting. If he does have any inclination to push back against the recent strength in the EUR, we think that he’s probably more likely to do so here than at Jackson Hole later this week, but that either way, he’s highly unlikely to say anything at this stage about tapering in 2018.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.