23rd April 2015
European equities and currency stumbled in trading on Thursday, after a round of disappointing Purchasing Managers’ Index hinted at sharply slower growth in April.
The euro tumbled to its lowest in over a month versus the British pound, while also touching a one-week low against the dollar. Stocks in Europe also headed south as the dismal data was compounded by the Greek debt crisis worries.
In a poor start to the second quarter of this year, Markit’s composite flash PMI data for Europe fell to 53.5 in April, lower than last month’s reading of 54.0 and below consensus estimates.
The surprise decline was led by sluggish factory order growth in France, and a smaller downward contribution was also noted from Germany.
Manufacturing and services PMI data failed to match even the lowest forecast in both of these nations, which raises the possibility of disrupting the fragile European economic recovery.
Further woes were added by the Gfk consumer confidence survey, which showed that consumers were less willing to purchase goods in March.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.