Eurozone Inflation and U.S. Manufacturing PMI in Focus
Markets open the week with a focus on Eurozone inflation data and U.S. manufacturing indicators. Investors are assessing global economic conditions as inflation reports and PMI data shape expectations for central bank policies. The euro remains under pressure, while oil and gold prices remain stable. The ISM Manufacturing PMI in the U.S. will be closely watched for signals on industrial activity.
Key Data Out Today
- Eurozone: HCOB Manufacturing PMI (Feb) – 46.1 (Previous: 46.1)
- Eurozone: Core Harmonized Index of Consumer Prices (YoY, Feb) – 2.6% (Previous: 2.7%)
- Eurozone: Harmonized Index of Consumer Prices (YoY, Feb) – 2.3% (Previous: 2.5%)
- U.S.: ISM Manufacturing PMI (Feb) – Expected at 50.8 (Previous: 50.9)
- U.S.: ISM Manufacturing New Orders Index (Feb) – Expected at 55.1
- U.S.: ISM Manufacturing Prices Paid (Feb) – Expected at 56.2
Commodities
- Crude Oil (WTI) trades at $69.79 (↑ 0.05%) as supply concerns are balanced against global demand trends.
- Brent Oil is at $72.84 (↑ 0.04%), holding steady despite broader market caution.
- Gold has risen to $2863 (↑ 0.22%) as investors seek safe-haven assets amid uncertain economic conditions.
- Silver has edged up to $31.25 (↑ 0.39%) following recent losses in the previous week.
Currency Movements
EUR/USD (1.0404, ↑ 0.26%)
The euro rises slightly as inflation data aligns with forecasts, but economic weakness remains a concern.
GBP/USD (1.2602, ↑ 0.20%)
The pound strengthens as markets anticipate upcoming UK economic data.
AUD/USD (0.6218, ↑ 0.25%)
The Australian dollar stabilizes, but remains under pressure from weak global risk appetite.
NZD/USD (0.5601, ↑ 0.02%)
The Kiwi dollar is little changed as markets await clearer signals on economic direction.
USD/JPY (150.18, ↓ 0.26%)
The yen gains as cautious sentiment weighs on the dollar.
USD/CNY (7.3032, ↑ 0.13%)
The yuan weakens amid continued concerns over China’s economic outlook.
USD/CHF (0.9016, ↓ 0.16%)
The Swiss franc strengthens slightly as investors shift toward defensive positioning.
USD/CAD (1.4442, ↓ 0.09%)
The loonie holds steady ahead of key economic releases.
USD/MXN (20.50, ↓ 0.19%
The peso gains slightly as risk sentiment remains mixed.
USD/INR (87.35, ↓ 0.14%)
The rupee edges higher, tracking broader emerging market performance.
Market Outlook
Investors will closely watch the ISM Manufacturing PMI later today for insights into U.S. industrial activity. Market sentiment remains cautious as central banks assess inflation risks and economic growth trajectories. The euro remains vulnerable to further weakness, while the U.S. dollar’s trajectory will depend on key economic data. Commodity prices are expected to trade in a narrow range as markets await further clarity on global demand trends.