08:15 AM GMT, France - PMI Data for March:
- HCOB France Services PMI: actual 47.8; forecast 48.8; previous 48.4;
- HCOB France Manufacturing PMI: actual 45.8; forecast 47.5; previous 47.1;
08:30 AM GMT, Germany - PMI Data for March:
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app- HCOB Germany Services PMI: actual 49.8; forecast 48.8; previous 48.3;
- HCOB Germany Manufacturing PMI: actual 41.6; forecast 43.1; previous 42.5;
09:00 AM GMT, Euro Zone - PMI Data for March:
- HCOB Eurozone Services PMI: actual 51.1; forecast 50.5; previous 50.2;
- HCOB Eurozone Manufacturing PMI: actual 45.7; forecast 47.0; previous 46.5;
In the Eurozone, there's a clear divergence in economic performance, with services improving but manufacturing lagging and stuck in recession. The overall economy, however, is moving closer to stabilization at the end of Q1. The manufacturing sector's weakness is primarily attributed to Germany, a major contributor, where output and new orders continue to fall.
- Germany shows a contrasting picture: its manufacturing sector is experiencing a severe contraction, while the services sector is relatively stable but weak. This situation brings Germany close to a technical recession, with the manufacturing sector shrinking by 1.7% in Q1 and services stagnating, resulting in a GDP contraction of -0.3%.
- In France, both manufacturing and services are weak, keeping the economy in contraction territory for Q1. Despite the slower demand, there's some optimism due to easing price pressures and expectations of an economic recovery later in the year.
EURUSD is experiencing a sharp decline today, but the drop is more a result of the dollar strengthening rather than the euro weakening.
Source: xStation 5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
