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Euro zone businesses concluded the first quarter of this year with probably the slowest surge for more than a year. The given outcome turns to be weaker than anticipated because new business appeared to take another hit from a shockingly strong common currency, according a poll.
In February, the euro zone's economic boom had already ceased because soaring prices put pressure, and a Reuters survey earlier this month told that surge had reached its climax, demonstrating a concern over the European Central Bank because it drifts away from an extremely loose monetary policy.
IHS Markit's flash composite PMI for the euro zone, considered to be a good indicator of economic health, headed south to 55.3 in March, which is far below all estimates in a Reuters survey that had forecast a more moderate dive to 56.7 versus February's final outcome of 57.1.
The survey compiler IHS Markit told that the data – notwithstanding severe weather also influencing March - pointed to firm first-quarter GDP surge of about 0.7%, which is a bit faster than the 0.6% forecast in a Reuters survey.
Since the beginning of 2018 the common currency has gained over 2% versus the evergreen buck, and it’s supposed to proceed with rising, thus making the bloc's services and goods less affordable for foreign buyers.
Since December export surge has more than halved from quite elevated levels. It definitely coincides with the strengthening of the common currency. Market experts guess that some of that currency effect might take its toll.
Aside from that it affected the EU’s dominant service industry. As a matter of fact, its PMI edged down to a five-month minimum of 55.0 versus 56.2, and also below all estimates in a Reuters survey that had foreseen an outcome of 56.0.
In October, Japan's exports rebounded, reversing from September’s steep dive because US-bound auto shipments rallied, although decelerating global demand along with the intensifying US-China trade conflict worsened the outlook for export-reliant Japan…
In October, euro zone inflation demonstrated its fastest tempo for almost six years, powered by energy prices…
The crypto market experienced huge losses during this week. What are the reasons?
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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