Alex Bobrov
According to the report published by Markit Economics, the eurozone PMI declined down to 49,1 against February’s 49,3. Analysts had anticipated a decline down to 48,7.
It should be noted that once the index readings come out below 50, this means an economic slowdown or decline while any readings above 50 testify to an economic recovery or growth. Consequently, the recent data suggest that the eurozone’s economic activity keeps declining. According to Markit Economics, this is the lowest performance in 3 months.
According to , the EUR futures (EURUSD) has consolidated below 1.3200 and is currently being traded within the 1.3150-1.3200 price range. The trading volume is low. However, the bears are clearly dominating the market right now.
Alex Bobrov
