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February Eurozone PMI

The last day of the trading week is going to be quite busy for euro traders.

We have the release of Flash PMIs for the major economies in Europe, inflation statistics, and a couple of potentially policy-revealing speeches by ECB Board members. And all of that will be coming out as the day progresses.

Let’s drill down on the PMI data since it’s likely to have the most impact on the market.

Earlier in the week, we had quite disappointing results from the ZEW Economic Sentiment Indicator. It showed that the largest economy in the eurozone was starting to backtrack on optimism.

That’s why markets are likely to be paying extra attention to Germany’s PMIs. Investors will be looking to see if executives are holding off on purchases due to institutional pessimism.

If major businesses aren’t willing to invest, it’s going to be hard for the economy to speed up any time soon.

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