Eurozone Markit retail PMI’s 6 February 2018
- Italy 47.3 vs 49.5 prior
- Germany 53.0 vs 55.1
- France 51.0 vs 53.0 prior
- Eurozone 50.8 vs 53.0 prior
Recently, these PMI’s have been a pretty good indicator of the headline numbers. That was until yesterday when the Eurozone retail sales came in worse than expected at -1.1%. The Dec PMI’s showed a small rise again from Nov. Retail sales can be volatile so we can never be 100% certain but they’re still a pretty good indicator if there’s a wild variation in the numbers.
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Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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add that to further interest rate hikes on the dollar and could be a euro short trade opportunity back down to 1.23
The weird thing is, that GBPUSD and EURUSD did very little over all that flapping yesterday. Cable had already made a big move before the US stock market shenanigans but the euro was pretty much ignoring it all. that said, they were both caught in the yen vs dollar fight, so that would have made it a zero net effect.
US trade balance figures are due later today and I just wonder if the dollar decline is in part due to the poor trade balance figures in December and January……if so then a good number today may push the dollar higher and the euro lower?
I don’t think they’ll have much importance in this environment, and if they do, they’ll either add to the sentiment if they’re bad, and will be faded if they’re good.
looking at the charts this morning maybe there is a case for the poor trade balance figures causing a dip in the dollar yesterday?
I think it’s looking pretty directionless at the moment.