It was a quiet day for data release yesterday with the main figure being Eurozone consumer confidence. It was expected to come out at -24 but came out slightly better at -22.3. US existing home sales for March came out better than expected, falling by 0.6% compared to the previous month.
There is expected to be a lot more data coming out today, we have already seen German and French PMI data be released. German PMI for services came out at 49.2 and for manufacturing, 47.9, both figures worse than expected. French PMI for services and manufacturing came out at 44.1 and 44.4 respectively, better than predicted. Eurozone PMI for services and manufacturing has just been released, at 46.6 and 46.5 respectively showing an expected deterioration in business conditions.
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