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Analysts at Danske Bank suggest that today is PMI day as later today both US and euro area PMI are due and after starting the year on a declining trend, they expect PMIs to stabilise around their current levels.

Key Quotes

“We predict manufacturing PMI to rise slightly to 54.7 from 54.6 and services PMI to increase to 54.6 from 54.4, as trade war fears continue to retreat as a headwind to business sentiment and the forward-looking new orders component also rebounded in the last survey.”