The European ‘me too’ play to the US’ previous QE operations is working like a charm as manufacturing purchasing managers continue to buy at an increasing pace. PMI has increased for 4 months in a row (well, we’ll give them February) and that is now a trend.
The non-manufacturing PMI is doing even better.
In Q4 2014 as the data were still down trending we projected this to happen due to the dynamics in play between the Euro and USD and the dynamics that were governing the respective central banks that supposedly steward these two currencies.
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