Analysts at TD Securities suggest that this morning’s Eurozone’s PMIs are the last big data point ahead of tomorrow’s ECB decision.
Key Quotes
“It would take a much bigger shift in the data than we’re looking for though to have any material thinking on the ECB’s deliberations.”
“For Germany, we look for the manufacturing PMI to continue to edge slightly higher to 45.3 (mkt 45.2), while remaining well below the break-even 50 mark as its manufacturing sector continues to lag the rest of the Eurozone.”
“For France, we look for another month of improvement with the services PMI rising to 53.4 (mkt 52.8), reaching its highest level since November.”
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