Euro zone surge speeds down again in March

Euro zone surge speeds down again in March

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.

Similar

Latest news

USD Gains Momentum
USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera