020 7898 0500This week has seen the single-currency weaken upon mixed data releases and investor sentiment. After Mario Draghi’s speech on Monday, Germany took centre stage, with worse-than-expected manufacturing Purchasing Managers Index (PMI). Other European PMI’s – from Germany, France and the bloc as a whole for both Manufacturing and Services – were mixed. The EU’s top economy also released final GDP data on Thursday which came out as predicted, although the well respected IFO business climate data came out worse than expected.
Bloomberg reported that Italians’ satisfaction levels with the country’s economy were at post-crisis high. This slightly throws into doubt the supposed lead in the polls for the No vote in next week’s Referendum. A No vote has widely been billed as the latest likely anti-establishment vote, but if a feel good factor is returning then the Renzi Government may be spared after all.
