Just following up on the retail PMI’s earlier and it looks like PMI’s do a fair job of front running the actual sales data.
Eurozone retail PMI vs actual retail sales 06 08 2014
The movements don’t entirely scale together perfectly but there’s enough to suggest that we can take it as a decent clue to the outcome of July’s retail sales data next month.
Trading wise we’ll have to see what’s expected nearer the time as the biggest and best possibility to catch a decent move in the currency is if expectations are high and we see confirm decent fall in the data.
We’ll have to wait until September 3rd before we can put the theory to the test but I love the possibility of little clues like this leading to possible outcomes in big data points.
Get bookmarking this page and setting those alarm clocks
