ECB says Global trade likely to pick up only gradually in the coming quarters • Will remain weaker than overall economic activity • US-China trade war has sapped confidence and held back investment • Downside risks to the outlook for trade have partially materialised in recent months • The threat of further escalation of trade tensions persists • Germany Final Services PMI drops to 54.5 from prior 55.8. Composite PMI drops to 50.9 from prior 52.6 • Markit: “It’s very early stages, but the PMI figures suggest that the economy is heading for another weak GDP performance over Q3, on the back of what is generally expected to have been a slight contraction in Q2. A further weakening of the data flow in the coming months and Germany’s economy could be staring down the barrel of a mild technical recession.” • The services print also hits a six-month low and that suggests possible spillover effects from the manufacturing sector, which could prove to be an issue later on in the year • We Are Able To Sell EURO 10% Above Market – PM Us For Details (Facebook/Linkedin: Blue Phoenix Financials) • Email Now To Access Our Next EURO Algo Trade Alert: inquiries@ppchk.net
AlgoTrader 