Flash: EZ PMIs up but still below 50 - Societe Generale

FXstreet.com (Barcelona) - Societe Generale Strategist Alvin T. Tan notes that the Euro area PMIs yesterday all came out better than expected, though the indices for Germany, France, Italy and Spain remain below the 50 contraction-expansion line.

He writes, “However, we saw very strong Swedish and Norwegian PMIs yesterday. Both over the 50 line, with Sweden at 51.9 and Norway at 52. Consequently, SEK and NOK both did well yesterday, against EUR and USD.”