EUR/USD
1.15635
-0.066%
Gold
4659.75
-0.989%
Oil
104.221
3.474%
USD/JPY
159.637
0.212%
GBP/USD
1.32563
-0.088%
GBP/JPY
211.622
0.043%
Real-time News
ECB Governing Council member Winsch: The ECB will need to take action at some point to control the indirect effects of the energy crisis.The final reading of the Eurozone Composite PMI for March was 50.7, below the expected 50.5 and the previous reading of 50.5.The Eurozones final March services PMI was 50.2, below the expected 50.1 and the previous reading of 50.1.April 7th - Surveys show that German demand weakened due to the Middle East wars, causing a sudden loss of momentum in service sector business activity in March. The final S&P Global German Services PMI for March fell to 50.9 from 53.5 in February, the lowest level since September last year, slightly below the preliminary reading of 51.2. Phil Smith, Vice President of Market Intelligence at S&P Global, attributed the economic slowdown to rising gasoline prices and increased uncertainty. He added that despite significant cost increases, service providers failed to pass on higher price increases to customers due to weak demand. Smith stated, "The decline in new business inflows for the first time since September last year clearly demonstrates the direct impact of the Middle East wars on demand, while the significant drop in business expectations highlights the dampening effect of rising energy prices, supply chain disruptions, and generally high uncertainty on growth over the next year." Business expectations fell to a three-month low of 53.4 in March, below the long-term average of 56.7. The final Composite PMI also fell to 51.9 in March from 53.2 in February, a three-month low, entirely due to the slump in the service sector.ECB Governing Council member Winsch: If the Iranian crisis continues for an extended period, there may be multiple interest rate hikes.
