020 7898 0500There was a raft of manufacturing PMI data yesterday and, while the UK’s was ever so slightly disappointing, the eurozone’s came in as expected as 59.6 Germany also posted healthy growth at 61.1. It is clear that Europe’s economic recovery continues and the manufacturing sector across the UK, US and Europe is healthy.
The euro strengthened against sterling and the dollar to continue where it left off last year. 2017 saw something of a renaissance for the single currency and it will be fascinating to see whether it can continue this run throughout 2018. As we have seen over the years, much can happen in a short space of time, but as the eurozone keeps posting strong economic readings, it is difficult to anticipate a significant slip any time soon. That’s not to say it won’t happen of course, because anything can.
There are no major releases tomorrow and so the focus will undoubtedly be on non-farm payrolls in America. If they come in below expectations we could see some further euro strengthening against the greenback.
