Forex Flash: European and US stocks markets down on ongoing Cypriot woes - OCBC Bank

FXstreet.com (Barcelona) - OCBC Bank analysts note that European and US stock markets lost ground on continued concerns over the Cypriot situation and weak Eurozone PMI data, which has overshadowed solid US housing and manufacturing data.

They write, “The flash Eurozone PMI data fell significantly in March to 46.5 from 47.9 in February, a sign that Eurozone economy may not be able to stabilize in the second quarter as many hope. The manufacturing activity in Germany flipped to contraction again at 48.9 in March, down from 50.3 in February.”