Below is a chart and brief excerpt from today's Early Look written by Director of Research Daryl Jones.
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One key takeaway from our deliberate study of global economic data in the past week is the turmoil in Europe. From Services PMIs to construction PMIs, Retail Sales and sentiment surveys — literally every economic data point in Europe has either decelerated or remained in contraction. The benefit of this (for those who are bullish on the dollar, like us) is that the economic data in Europe may push the ECB toward a more dovish stance at a time when the Fed is moving in the opposite direction. |
