Euro zone PMI at 6-month low
Manufacturing activity in the euro zone expanded in August at its slowest pace since February
UK Manufacturing PMI falls to lowest since November
Growth in the country's manufacturing sector slowed more than expected last month, led by the weakest expansion in new orders for more than a year, a purchasing managers' survey showed on Wednesday.
"Taken alongside the euro zone figures published today, it looks as if a broad industrial slowdown is occurring across much of the EU."
Making lemonade out of lemons
Ultimately, however, we would prefer to use any correction higher in USD/JPY or JPY-crosses and other risk assets as a selling opportunity in anticipation of renewed pessimism in the weeks ahead. Next Friday's US Aug. employment report should serve as a prominent reminder of the weak rate of job creation in the US and the improbability of a near-term improvement in the outlook. In the next section, we highlight some key price levels to monitor any potential correction or subsequent relapse.
Manufacturing activity in the euro zone expanded in August at its slowest pace since February
UK Manufacturing PMI falls to lowest since November
Growth in the country's manufacturing sector slowed more than expected last month, led by the weakest expansion in new orders for more than a year, a purchasing managers' survey showed on Wednesday.
"Taken alongside the euro zone figures published today, it looks as if a broad industrial slowdown is occurring across much of the EU."
Making lemonade out of lemons
Ultimately, however, we would prefer to use any correction higher in USD/JPY or JPY-crosses and other risk assets as a selling opportunity in anticipation of renewed pessimism in the weeks ahead. Next Friday's US Aug. employment report should serve as a prominent reminder of the weak rate of job creation in the US and the improbability of a near-term improvement in the outlook. In the next section, we highlight some key price levels to monitor any potential correction or subsequent relapse.
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