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Eurozone: Economy has paused for breath - RBS

There are further signs that Eurozone economy has paused for breath as the region’s PMI composite index dropped to 54.1 in May, from 55.1 in April, which is an 18 month low, points out the research team at RBS.

Key Quotes

“The rate of expansion cooled down amid softer rises in business activity, new orders, employment and backlogs of work. A higher than usual number of public holidays, which workers bridged on to weekends, played a role. Margins were squeezed as input costs rose faster then selling prices. The good news is that the headline survey reading still points to a decent pace of growth for the eurozone.”

EUR/USD rebounds from lows, around 1.1560

After bottoming out in levels just above 1.1500 the figure, EUR/USD met some dip-buyers and is now testing the 1.1560 region. EUR/USD looks to Italy
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Denmark: Improved government finances – Nordea Markets

Jan Størup Nielsen, Research Analyst at Nordea Markets, notes that the Danish Ministry of Finance has once again had to revise down its estimate of th
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