It was a relatively positive day for the eurozone yesterday, as data releases showed the economy is perhaps taking small steps towards recovery. Composite PMI exceeded expectations, reaching 30 and reversing the losses of April compared to March. Although a very low figure overall, it gives hopes that a slow recovery may be on the cards as lockdown eases.
Today, the markets will be looking forwards to the ECB’s monetary policy meeting accounts, although there is not expected to be much in the way of surprises.
