It’s PMI day, and the ING economists believe the euro could benefit from stronger growth after a period of weak domestic momentum.
A reminder of improving growth prospects
“Last week, the euro ran out of compelling domestic data, so today’s PMI indices will be closely watched. Consensus is in favor of a modest improvement in both the manufacturing and services indicators. , and investors could see this as an opportunity to re-enter strategic positions in the medium and long term in the euro, now that the dollar correction appears to be losing momentum.”
“Instability in global risk appetite today could delay any beneficial effects on EUR/USD, but we continue to see the balance of risk tilted to the upside for EUR/USD in the coming days, and a return to the 1.0750-1.0800 range seems possible.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
