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1 Aug 2014
European and Chinese PMIs - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted Europe’s and China’s PMIs.
Key Quotes
"At a high level, the euro zone and UK manufacturing PMIs were softer, the Scandi bloc surveys were stronger, and China's was mixed (official one at highs for the year, while the HSBC flash estimate was revised lower). The euro zone July was unchanged at 51.8 from June, though the flash estimate was 51.9."
"Germany's final report came in a bit lower than the flash, but France came in a bit better, though still below 50. The real new information though comes from Italy, where the manufacturing PMI slipped to three-month lows (though export orders improved) and Spain, which softened slipped to 53.9 from 54.6."
Key Quotes
"At a high level, the euro zone and UK manufacturing PMIs were softer, the Scandi bloc surveys were stronger, and China's was mixed (official one at highs for the year, while the HSBC flash estimate was revised lower). The euro zone July was unchanged at 51.8 from June, though the flash estimate was 51.9."
"Germany's final report came in a bit lower than the flash, but France came in a bit better, though still below 50. The real new information though comes from Italy, where the manufacturing PMI slipped to three-month lows (though export orders improved) and Spain, which softened slipped to 53.9 from 54.6."