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Eurozone Gets 2018 Off to a Strong Start 

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The euro-area economy strengthened further at the start of 2018, bringing with it signs of a long-awaited pickup in inflation.The improvement lifted IHS Markit’s Purchasing Managers’ Index to 58.6 from 58.1 in December, higher than economists had forecast. The gauge is now at a level suggesting quarterly economic growth of close to 1 percent, according to the report.

Rising output prices will reinforce the position of the more hawkish members of the European Central Bank’s Governing Council. They’ve already been out in force this year, arguing that the improved economic backdrop has put inflation on a path toward 2 percent and justifies an unwinding of unprecedented stimulus.

Source: Euro-Area Economy Opens 2018 With Best Growth in Almost 12 Years – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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