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PVM Midday Report 01 April 2014

Published Tuesday, April 1st, 2014

  1. Eurozone manufacturing output expands in March
  2. Iraqi Kurdistan oil exports on hold due to Iraqi pipeline repairs
  3. Number of German unemployed falls to record low during March
  4. Chinese apparent petroleum demand declines 1.9% y/y in Jan-Feb

Fundamentals

Economy: European risk assets are being underpinned by dovish comments from Janet Yellen and encouraging manufacturing data from across the Eurozone – the Eurofirst 300 is up 0.5%. Investor sentiment was buoyed by figures showing that the latest manufacturing PMI for France and Spain hit multi-year highs. Moreover, the number of German unemployed fell to a fresh low in March although the jobless rate for the currency bloc remained close to record highs at 11.9%.

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Posted by Stephen Brennock

Stephen Brennock joined PVM in 2013 after having worked as a project manager for a business development firm. He graduated with a degree in Business Management in 2007.