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Euro to Dollar Game Plan: Dollar Bid Next Couple of Weeks, Then Turning Lower in March

Euro to Dollar Game Plan: Dollar Bid Next Couple of Weeks, Then Turning Lower in March
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Jerome powellDavid woodsmithNorman liebkeCredit agricoleEconomist at hamburg commercial bankFederal reserveInternational moneyDollar game planBid next coupleThen turning lowerHamburg commercial bankFed chair jerome powellEuro dollar

Eurozone PMI composite rises to 48 9, a step towards recovery amid German drag

Eurozone PMI Manufacturing dipped further from 46.6 to 46.1 in February, undershooting expectations of a 47.1 reading and signaling continued contraction. Conversely, PMI Services climbed from 48.4 to neutral mark of 50.0, surpassing the forecast of 48.7 and reaching a 7-month high. This uplift in services contributed to PMI Composite's rise from 47.9 to 48.9, marking an 8-month peak yet still indicating slight overall economic contraction.

Norman liebkeEconomist at hamburg commercial bankHamburg commercial bank

Yen Falters in Risk-On Environment, Dollar Seeks Comeback With Surging Yields

Global financial markets are currently basking in a robust wave of risk-on sentiment, evidenced by Japan's Nikkei and Europe's Stoxx 600 indices reaching new record highs. The optimism is further bolstered by promising US futures, with the technology sector leading the charge, significantly propelled by Nvidia's impressive results. This surge in tech enthusiasm is largely fueled by the ongoing artificial intelligence boom, which seems poised to captivate market sentiment for the foreseeable future.

United statesNew zealandHong kongRed seaDjibouti generalSouth koreaUnited kingdomWarren hoganChris williamsonEurope stoxxUsamah bhattiNorman liebkeEuropean central bankFrance servicesOil inventoriesGermany services

Eurozone s manufacturing PMI finalized at 46 6, persistent contraction with glimmers of hope in the south

Eurozone PMI Manufacturing was finalized at a 10-month high of 46.6 in January, up from December's 44.4. Despite this, caution is advised as the index still hovers below the critical expansion threshold. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, highlights that although there's been a consistent rise over the past three months, including in forward-looking indicators like new orders, the majority of the sub-indices, including the headline index, remain in the contraction zone.

Economist at hamburg commercial bankChief economistHamburg commercial bank

BoE s Three-Way Split Vote Muddles Sterling s Path, Yen Strength Continues

Sterling is currently trading with indecisiveness following BoE's rate decision, which has provoked mixed reactions in the markets. The decision, notable for its combination of hawkish and dovish signals, resulted in a rare three-way voting split the first occurrence since 2008 with two members favoring a rate hike, one a cut, and the rest opting for no change. This split highlights the complexities and differing perspectives within the MPC.

New zealandHong kongRed seaDjibouti generalUnited kingdomSwati dhingraRob dobsonJonathan haskelAndrew baileyUsamah bhattiCatherine mannEconomist at hamburg commercial bankBank rateSenior economist at caixin insight groupJapanese yenAustralian dollar