24 Apr 2014
EMU's growth outlooks improves - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, remarks the good prospects for economic growth in the EMU...
Key Quotes
"The euro has derived modest support from the release yesterday of the stronger than expected preliminary euro-zone PMI surveys for April. The surveys signalled that economic growth in the euro-zone has likely strengthened further early in Q2, consistent with real GDP expanding by around 0.5%."
"The release of the German IFO survey today is expected to provide further evidence of the ongoing improvement in German business confidence. At the margin the improving euro-zone growth outlook may make the ECB more cautious over implementing further monetary easing ahead although the PMI surveys also continued to signal downward pressure upon prices".
"Portugal also successfully held its first regular debt auction yesterday raising EUR750 million increasing the likelihood of a clean exit from its bail out next month."
Key Quotes
"The euro has derived modest support from the release yesterday of the stronger than expected preliminary euro-zone PMI surveys for April. The surveys signalled that economic growth in the euro-zone has likely strengthened further early in Q2, consistent with real GDP expanding by around 0.5%."
"The release of the German IFO survey today is expected to provide further evidence of the ongoing improvement in German business confidence. At the margin the improving euro-zone growth outlook may make the ECB more cautious over implementing further monetary easing ahead although the PMI surveys also continued to signal downward pressure upon prices".
"Portugal also successfully held its first regular debt auction yesterday raising EUR750 million increasing the likelihood of a clean exit from its bail out next month."