ECB's Villeroy: There is some economic stabilisation in the Eurozone

24 Jan 2020
ECB governing council member, Francois Villeroy de Galhau, speaks in Davos
- Inflation goal must be symmetric, flexible, and credible
ForexLive
Well, the PMI data today certainly suggests that he is not wrong with the headline remark but overall growth remains unspectacular in the region. If economic conditions continue to keep more tepid as seen in recent months,
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Economists' outlook on euro area economic conditions broadly unchanged - ECB survey

24 Jan 2020
ECB releases the results of its latest survey of professional forecasters
- 2020 inflation seen at 1.2% (previously 1.2%)
- 2021 inflation seen at 1.4% (previously 1.4%)
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Eurozone January flash manufacturing PMI 47.8 vs 46.8 expected

24 Jan 2020
Latest data released by Markit - 24 January 2020
- 46.3
- Services PMI vs 52.8 expected
- 52.8
- Composite PMI vs 51.2 expected
- Prior 50.9
ForexLive
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BOE won't be deterred to cut rates next week by PMI data - Credit Agricole

24 Jan 2020
The firm expects the BOE to cut its bank rate by 25 bps on 30 January
Adding that "to be sure, there is scope for positive PMI surprises today (based on the Deloitte CFO survey and CBI business optimism); but correlation between these gauges and the PMIs has been tenuous at best in recent years".
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ECB's Knot: Technically speaking, we haven't hit effective lower bound on rates

24 Jan 2020
Comments by ECB governing council member, Klaas Knot, in Davos
- But there are decreasing returns to further rate cuts
- Strategy review an opportunity to close perception gap on inflation
ForexLive
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Pickup in German economic activity nudges risk a little higher on the day

24 Jan 2020
German PMI readings rise to five-month highs across the board, possibly hinting at a bottom in the recent slowdown
All three of the manufacturing, services and composite readings hit a five-month high and that provides additional hope that we will see a more significant recovery in the German economic outlook this year.
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Germany January flash manufacturing PMI 45.2 vs 44.5 expected

24 Jan 2020
Latest data released by Markit/BME - 24 January 2020
- 43.7
- Services PMI vs 53.0 expected
- 52.9
- Composite PMI vs 50.5 expected
- Prior 50.2
ForexLive
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Russia reportedly suspends direct flights from Wuhan to Moscow

24 Jan 2020
Interfax reports on the matter
ForexLive
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France January flash manufacturing PMI 51.0 vs 50.6 expected

24 Jan 2020
Latest data released by Markit - 24 January 2020
- 50.4
- Services PMI 51.7 vs 52.2 expected
- 52.4
- Composite PMI 51.5 vs 52.0 expected
- Prior 52.0
ForexLive
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European equities higher to start the day

24 Jan 2020
European stocks playing catch up to Wall Street yesterday
- Eurostoxx +0.6%
- Germany DAX +1.0%
- France CAC 40 +0.8%
- UK FTSE +0.8%
- Spain IBEX +0.6%
ForexLive
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