24 March 2014 ~ French & German Manufacturing PMI

To kick off the day there was a trio of scheduled data releases out of Europe.

1) French Manufacturing PMI came in a marginal beat over expectations and caused an immediate spike in the EUR. There was no trade here, as the move was so short-lived. (Apologies for the messy video… I was running late for work).

2) German Manufacturing PMI came in marginally lower than expected, and naturally, EUR gave up any earlier gains with a rapid spike lower. If there was an obvious trade to make here – I certainly didn’t see it, as there was no sustained move after the initial jerk.

3) Latterly, Eurozone Manufacturing PMI came in bang on expectations of 53.0. I won’t dignify it with any video footage.

The session was otherwise uninspiring. There was clear selling across equities for much of the day but perhaps on this occasion it was more Technically driven than Fundamental, given the lack of big news.


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