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EUROAREA SLOWING DOWN SIGNIFICANTLY!!!

According to IHS Markit PMI data, manufacturing conditions have deteriorated in March to the greatest degree seen in nearly six years. This was majorly due to lethargic data from three of the Eurozone bloc’s biggest economies with France, Italy and Germany printing 3-month low, 70-month low and 80-month low PMI data respectively. This underperformance can be linked to slowing demand environment as global economies are also seen experiencing slowdown in growth.

This goes to speak a lot to market participants investing and trading the markets like it’s all rosy – it isn’t as the aforementioned clearly shows. It is worth noting that several forward-looking indicators are pointing to “unpleasantness” so it quite advisable that traders thread carefully whilst keeping risk relatively tight.

From a currency vantage point, this puts the Euro in the downside risk spectrum.

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