Trial now

Deeper in the red going into the EU cash open


Gilts opening calls


Cable test session low

MNI Global morning Briefing

MNI (London)
     LONDON (MNI) - On Wednesday the final Markit Services PMI will be released
for Spain, Italy, France, Germany, Eurozone and the UK at 0815BST, 0845BST,
0850BST, 0855BST, 0900BST and 0930BST, respectively. At 1000BST eurozone retail
sales data will be closely watched. In the US the release of the ISM
Non-Manufacturing index is the highlight on Wednesday.
     The Services PMI for Spain and Italy is expected to rise slightly in March
to 55.1 and 50.7, respectively from 54.5 and 50.4 in February.
     France's, Germany's and the Eurozone's PMIs are anticipated to remain on
February's levels in March (48.7, 54.9 and 52.7, respectively).
     According to the MNI median the Services PMI in the UK is seen declining to
50.8 in March after a reading of 51.3 in February.
     Retail sales in the Eurozone increased by 1.3% m/m and 2.2 % y/y in January
after a sharp decline in December (-1.4% m/m). The MNI median expects the
month-on-month growth rate to subdue to 0.3% for February. However, the series
remains above the long-term average (0.08%).
     The nonmanufacturing ISM reading is expected to fall to 58.0 in March after
rising to 59.7 in February. The Philadelphia Fed nonmanufacturing index surged
to 21.7, the Kansas City services reading declined to -2, and the Dallas
Services index fell to -4.4 and the flash Markit Services index fell to 54.8.
     The highlights are Atlanta Fed's Bostic, ECB's Novotny and Minneapolis
Fed's Kashkari at 1330BST, 1700BST and 2200BST, respectively.
--MNI London Bureau; tel: +44 203-586-2225; email:
MNI London Bureau | +44 203-865-3812 |