<ul><li>Prior +2.9%</li><li>Core CPI +3.3% vs +3.2% y/y expected</li><li>Prior +3.4%</li></ul><p>The numbers here are more or less expected and reaffirms just a slight drop in inflation to start the year. In any case, it just keeps the ECB on track to maintain the argument for rate cuts in the m
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ECB's Centeno: If inflation trajectory holds, the next step will be to cut rates
<p>In trying to steer the conversation away from a debate on April or June, they are treating as though markets don't get the idea that rate cuts are the only plausible option in play right now. Sheesh.</p> This article was written by Justin Low at www.forexlive.com.
UK January final manufacturing PMI 47.0 vs 47.3 prelim
<ul><li>Prior 46.2</li></ul><p>Output declined for an eleventh straight month, with the drop in January not much changed to that in December. New orders also declined while employment conditions also weakened, so that isn't too pretty despite an easing in the downturn to start the year. S&P Global notes th
US futures see a light bounce, Treasury yields still looking heavy
<p>The dollar might be sitting higher on the session but there are still some mixed elements in play at the moment. The most notable being the drop in Treasury yields, which is still holding so far this week.</p><p>10-year yields are seen at 3.945%, not really budging after the sharp drop yesterday. And that comes despite [&hellip
Eurozone January final manufacturing PMI 46.6 vs 46.6 prelim
<ul><li>Prior 44.4</li></ul><p>The headline reading is a 10-month high as it reaffirms that the downturn in Europe's manufacturing sector is easing. Of note, output and new orders are seen declining at their softest rates since April last year. Meanwhile, business confidence also improved to a 9-month high to star
Germany January final manufacturing PMI 45.5 vs 45.4 prelim
<ul><li>Prior 43.3</li></ul><p>The downturn in Germany's manufacturing sector eases in January but the overall outlook remains cautious for now. Output, new orders, and purchasing activity all fell at the slowest rates for several months but weak demand conditions are still prevailing. HCOB notes that:</p>&l
France January final manufacturing PMI 43.1 vs 43.2 prelim
<ul><li>Prior 42.1</li></ul><p>Little change to the initial estimate as France's manufacturing sector continues to see a sharp contraction in January. New orders showed a considerable drop once again while output levels also saw a steep decline to start the year. Adding to the woes is that employment conditions ar
Italy January manufacturing PMI 48.5 vs 47.3 expected
<ul><li>Prior 45.3</li></ul><p>Italy's manufacturing slump eases in January amid slower declines in output and new work. However, vendor performance deteriorated for the first time in nearly a year, owing to shipping route complications in the Red Sea. HCOB notes that:</p><p>“Things are brightening up
Switzerland January manufacturing PMI 43.1 vs 44.5 expected
<ul><li>Prior 43.0</li></ul><p>The Swiss manufacturing sector continues to struggle as output is once again seen declining. Of note, delivery times are seen increasing and may reflect a risk to supply chains amid the Red Sea situation. Here is the breakdown of the components for the main index:</p> This article w