The US dollar surged yesterday after the positive US data, but turned down today. Jump in to get a market wrap!
Euro zone factories struggle to meet surging demand in March
In the euro zone factories struggled to keep up with demand in March notwithstanding soaring activity at the fastest rate in almost six years, as a poll revealed. It also disclosed raising prices.
IHS Markit's fresh manufacturing Purchasing Managers' Index for the euro zone added to 56.2 in March, which is the highest value since April 2011, compared to February's 55.4. Obviously, it was in line with a flash estimate as well as far above the 50 mark, separating surge from contraction.
An index, estimating output and feeding into a composite PMI due on Wednesday, grew to a near six-year peak of 57.5 from 57.3. By the way, 57.2 was the flash estimate.
Financial analysts tell that euro zone manufacturing is definitely enjoying a sweet spell, though it’s also facing surging pains in the form of supply delays as well as ascending costs.
Additionally, the poll is also pointing out to the highest incidence of supplier delivery delays for almost six years, thus underscoring how suppliers are struggling just to meet ascending demand.
Australian Private Capital Expenditure will be out on Thursday at 2:30 MT time!
Oil jumped to March high, stocks are heading to record highs, while the US dollar is on the back foot.
News geeks get ready for the chain of US reports, which starts at 15:30 MT time on November 25!