Markets Calm Following Strong EU Data
Pure FX
20.04.2011
The panic surrounding PIG nations such as Greece has eased in the last 24 hours following robust EU manufacturing data. EU manufacturing increased +0.2 this month to 57.7 according to new figures from Markit. This compares to 57.5 in March.
In addition German manufacturing also rose according to Markit – rising 0.8 to hit 61.7 this month. The data has eased pressure on the euro because manufacturing is a strong indicator of EU economic strength.
However manufacturing aside the last 24 hours have not been good for EU data.
More...
Pure FX
20.04.2011
The panic surrounding PIG nations such as Greece has eased in the last 24 hours following robust EU manufacturing data. EU manufacturing increased +0.2 this month to 57.7 according to new figures from Markit. This compares to 57.5 in March.
In addition German manufacturing also rose according to Markit – rising 0.8 to hit 61.7 this month. The data has eased pressure on the euro because manufacturing is a strong indicator of EU economic strength.
However manufacturing aside the last 24 hours have not been good for EU data.
More...
