Data from the Eurozone saw the release of the Sentix investor confidence. Data showed that investor confidence weakened for the sixth consecutive month. The investor confidence for the euro area fell to -3.7 from -1.5 in January which was the lowest reading since November 2014.
The current conditions index fell to 10.8 from 18 which was the lowest since December 2016. The current conditions index declined for the sixth consecutive month.
Meanwhile, UK’s construction sector slowed. Growth eased in Australia’s retail sales reportto reach a ten-month low. Data from IHS Markit showed that the construction PMI fell to 50.6 from 52.8 in December. The U.S. factory orders fell 0.6% on the month coming out worse than expected.
Earlier today, the Reserve Bank of Australia held its monetary policy meeting. As widely expected, the central bank left the main interest rates unchanged at 1.75%. Ahead of the RBA meeting, Australia’s retail sales report showed a 0.4% decline on the month, which was worse than expected.
The European trading session today will see the release of Markit’s services PMI for France, Germany, Italy and the Eurozone. The Eurozone service PMI should remain steady at 50.8.
The UK’s services PMI report will also be coming out. Economists forecast that the services sector eased modestly to 51.1 from 51.2 in December.
The NY trading session will see the release of ISM’s non-manufacturing PMI. Activity in the non-manufacturing sector should ease to 57.0 from 57.6 previously.
