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Eurozone PMI confirms an irony – BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Research Team at BBH, suggest that the economic data from the Eurozone has held up well, pointing to fairly steady even if unimpressive growth while the Draghi made a case for setting policy based on risk scenarios but the data does not seem to support such sense of urgency.

    Key Quotes

    “At 52.3, the eurozone manufacturing PMI was slightly better than the flash (52.0) and is a little above the Q3 average. Of note, on a national level, Germany's flash PMI was revised higher (52.1 from 51.6) and Italy was a pleasant surprise at 54.1 (consensus 53.1 after 52.7 in September).”

    “The service PMIs may also surprise on the upside. Although the market has treated Draghi's comments as if they were a commitment to ease policy at the December 3 meeting, it may not be a done deal.”
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