Earlier, EZ and members have published the PMI data, ignored by a market participants, as doubts about the Eurozone economic recovery speed overshadow PMI data improvements.
French, German, EZ, and UK PMI in both service and manufacturing released above expectations and mostly above expansion level except French and EZ service PMI.
However, despite the positive economic data, Europe is currently suffering from increasing numbers of new infected, and recent lockdowns have planned in French and Germany, and Italy. Simultaneously, late Tuesday, Netherlands also announced that the nationwide curfew would be extended by three weeks until the end of April.
In EZ, the problem is mostly about vaccination programs and dissatisfaction from local governments, which will be a threat to the nature of the European Union.
On the data front, we should not forget that surveys were conducted before the latest restrictions; that's why they have been ignored mainly through the market participant. On the other side, German production activities rose to be recorded in March, while the service sector for the first time after five months reduction has expanded.
At the time of writing, GB100 lost 0.20%, while DE30 down about 0.50% and FR40 losing about 0.20%. This is while earlier in the Asian season, Asian stocks lost 2% on average, but US futures were gaining 3% in DJI and SP500, and NASDAQ’s future trading 0.75% higher.
In the Forex market, despite published data, EUR is losing about 0.22%, but it is GBP that, with negative CPI data, is the daily loser by now, at 1.3690 USD, almost 0.3% lower than the opening price.
Elsewhere, gold futures rose 0.3% to $1,731.00 /oz, while Crude Oil (WTI) at 59.10, gaining $1.34 (+2.32%).