Currency Analyst since 2010

Euro area: the day of PMIs and Draghi

There’s a bunch of PMIs released today in the euro area at 08:00-09:00 GMT. The consensus forecasts show higher readings in Nov. than in Oct.

Credit Agricole: “We expect most business confidence surveys to rebound this month, following a temporary setback in October. Although the PMIs have improved significantly this year, and already stand close to levels consistent with a modest pick-up in growth, the underlying cyclical momentum remains positive and business confidence should benefit from rising risk sentiment as well as the surprise ECB rate cut.”

The ECB President Mario Draghi is set to speak today at 10:05 GMT.

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