Global markets are pricing PMI data

Global markets are pricing PMI data which were announced yesterday. Firstly, if we look at the American side for the Purchasing Managers Index, we would observe the data stayed under the expectations. This data led to a gain in speed downward movement in the Dollar Index.In this period, manufacturing sector index was 54.3 points while service sector index was 53.9 points. Both data indicate a loss of momentum in economic activity relative to the previous turn. At this point, it would not be wrong to say that the strong Dollar has damaged the economy. Another factor is undoubtedly the uncertainties regarding Trump and Fed policies.

On the other hand, when we look at the European market, we can observe a positive atmosphere. The Purchasing Managers' Index figures announced yesterday across the Euro area are above market expectations. Composite PMI in the region was the highest in the last 6 years with 56.0 points. When we look at the two major economies of the region, Germany and France, it is possible to say that the economies of both countries have developed. However, the uncertainty created by upcoming elections has begun to damage the French economy. In February, the service sector PMI index rose 56.7 points, while the manufacturing sector index was down 52.3 points.