A bunch of data is coming out of EU later this afternoon 1615H to 1700H (+8GMT). Which of these do we follow?
– Services PMI 51.4
– Manufacturing PMI 50.8
– Manufacturing PMI 44.8
– Services PMI 53.9
– Manufacturing PMI 47.4
– Services PMI 52.4
I believe the significant moves will come on Germany’s data because Germany is the largest economy within the EU. So don’t get too excited at 1615H.
How do we trade this later? If EUR goes up, short it against USD. If EUR goes down, buy it against AUD or NZD.
Take away should be a good 0.30-0.50%