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22 Jan 2016
EUR: Mixed data from the Eurozone - TDS
FXStreet (Delhi) – Research Team at TDS, notes that the flash French services PMI outpaced market expectations, rising back into 50+ territory to 50.6 in January on increased new business alongside a small expansion in employment.
Key Quotes
“The flash German manufacturing PMI disappointed with a decline to 52.1, as manufacturers reported further gains in new export orders, but employment growth slowed somewhat. Some respondents blamed the oil industry for the slowdown.
The ECB's Survey of Professional Forecasters was also out, and showed a decline in long-term inflation expectations, from 1.9% to 1.8%, returning to its 15H1 historical lows. The Governing Council likely had this info prior to yesterday's policy decision, and it's possible it fed into Thursday’s dovish ECB statement.”
Key Quotes
“The flash German manufacturing PMI disappointed with a decline to 52.1, as manufacturers reported further gains in new export orders, but employment growth slowed somewhat. Some respondents blamed the oil industry for the slowdown.
The ECB's Survey of Professional Forecasters was also out, and showed a decline in long-term inflation expectations, from 1.9% to 1.8%, returning to its 15H1 historical lows. The Governing Council likely had this info prior to yesterday's policy decision, and it's possible it fed into Thursday’s dovish ECB statement.”