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The European PMIs this morning will be.....>

EUROZONE
EUROZONE: The European PMIs this morning will be key. These are the preliminary
February prints. Consensus broadly expects a downtick in the manf prints. Given
that the disruption to global supply chains (particularly in the autos sector)
has likely intensified in February on the back of the coronavirus-led lock down,
the market could be very sensitive to these prints. Even a slight upside
surprise could be viewed very positively (slowdown not as broad as some fear),
although the risks are skewed in the direction of a significant miss.

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