Analysts at TD Securities, (TDS), explained their outlook for the EZ data in Tuesday’s markets.
Key Quotes:
“Today we get the flash PMIs for July. After 6 straight months of decline we look for yet another month of deterioration in the Germany manufacturing PMI, from 55.9 to 55.5 (mkt 55.5).”
“With the potential for US auto tariffs looming, it’s difficult to envision the German PMI turning around quite yet.”
“For France, we look for the services PMI to come in little changed at 56.0 in July (mkt 55.7).”
“The services sector should be less impacted by the threat of further tariffs, and French activity should have been well-supported by World Cup celebrations.”
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