Economic calendar for the European morning session today was dominated by manufacturing PMI releases for January. However, the majority of those were revisions to flash data released on January 24, 2024, and therefore were not expected to show any larger deviations from preliminary values or trigger any larger market moves.
Data from Spain and Italy turned out to be better than expected, with indices from both countries significantly improving compared to December. When it comes to revisions of data for France, Germany and the whole euro area, no major deviations were reported. Data has largely confirmed what was suggested by flash releases last week. A key takeaway from PMIs is that the manufacturing sector in all major European economies remained in contraction in January 2024.
Manufacturing PMIs for January
- Spain: 49.2 vs 48.0 expected (46.2 previously)
- Italy: 48.5 vs 47.3 expected (45.3 previously)
- France (final): 43.1 vs 43.2 in first release (42.1 previously)
- Germany (final): 45.5 vs 45.4 in first release (43.3 previously)
- Euro area (final): 46.6 vs 46.6 in first release (44.4 previously)
No major reaction to manufacturing PMIs could be spotted on the EUR market. Taking a look at EURUSD chart at H1 interval, we can see that the pair continues to slide following yesterday's surprisingly hawkish FOMC meeting.
Source: xStation5
ข่าวเด่น: ดุลการค้าสหภาพยุโรปออกมาผสมผสาน 💶
ปฏิทินเศรษฐกิจ: ดัชนี Philly Fed สหรัฐฯ และคำกล่าวของผู้ว่าธนาคารกลางอยู่ในความสนใจ
ข่าวเด่น: ข้อมูลการผลิตอังกฤษออกมาดีกว่าคาด แต่ GDP โตช้ากว่าคาดเล็กน้อย
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