Eurozone: Focus on flash PMIs - TDS
Analysts at TD Securities point out that for data today, we have the Eurozone’s flash PMIs for June.
“It was looking like we had reached a floor with Germany's manufacturing PMI, as it stabilised with a 44-handle for the last three months in a row. With US-EU auto tariffs having been delayed and US-Mexico tariffs having been averted, we had hoped to see some upward movement, but the disappointing ZEW report earlier this week leaves a big question mark around that view. With the ZEW polling financial market participants and the PMI polling purchasing managers, we could still see some divergence. But our forecast for an uptick to 45.5 in June (mkt: 44.6) is a bit more of a long shot. For the French services PMI, we look for a steady reading of 51.5 (mkt: 51.6).”
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- Germany's trade surplus rose slightly in October
- Swiss unemployment rate remained unchanged in November
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