Euro focus will be on August PMI prints later in the week
Mark your calendars for 22 August, Thursday this week
Looking ahead to this week, Jackson Hole may provide some more clues on that if we do see some ECB members on the agenda but prior to that we could get more potential hints via the August flash PMI prints on Thursday:
0715 GMT - France August flash manufacturing, services, composite PMI
- Manufacturing: Expected 49.5; Prior 49.7
- Services: Expected 52.5; Prior 52.6
- Composite: Expected 51.8; Prior 51.9
0730 GMT - Germany August flash manufacturing, services, composite PMI
- Manufacturing: Expected 43.0; Prior 43.2
- Services: Expected 54.0; Prior 54.5
- Composite: Expected 50.6; Prior 50.9
0800 GMT - Eurozone August flash manufacturing, services, composite PMI
- Manufacturing: Expected 46.6; Prior 46.5
- Services: Expected 53.0; Prior 53.2
- Composite: Expected 51.2; Prior 51.5
With plenty of talk on potential German fiscal stimulus as well, pay keen attention to the German prints. A further deterioration in sentiment will no doubt push the ECB towards a stronger stimulus introduction in September.
The big question remains whether or not they will need to reintroduce QE this quickly but Rehn's comments suggest that they are looking at that possibility already.
Hence, further decline in the economic outlook from the releases above could elevate market expectations even more and prove to be a drag on the euro this week.
Reprinted from Forexlive，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.