Eurozone: Expect mixed results from flash PMIs - TDS

Analysts at TDS are looking for mixed results from today’s flash PMIs and expect Germany’s manufacturing PMI to hold at 59.6 in July (mkt 59.2), as upside signals from most other survey data are washed out by concerns over the rise in the euro.

Key Quotes

“Meanwhile, we look for the French services PMI to slip to 56.2 as momentum in France seems to be slowing a bit after an unsustainably strong pace earlier in the year. Also today, the ECB’s Director General of Economics Frank Smets is due to speak on “The ECB’s Monetary Policy since 2014” at 5pm BST.”