In March, the S&P Global Manufacturing PMI for Greece rose from 52.6 to 55

    by VT Markets
    /
    Apr 1, 2025

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    Greece’s S&P Global Manufacturing PMI rose from 52.6 to 55 in March 2025. This increase indicates an expansion in the manufacturing sector.

    The Job Openings and Labor Turnover Survey (JOLTS) is expected to show a decline in job openings to 7.63 million for February. Concerns about a potential recession have grown, particularly with new tariffs set to be introduced on April 2.

    Understanding Margin Risks In Forex Trading

    Foreign exchange trading on margin is risky and may not suit every trader. Individuals must carefully consider their investment objectives and risk tolerance before engaging in such activities.

    The stronger-than-expected improvement in Greece’s S&P Global Manufacturing PMI, shifting from 52.6 up to 55 in March, reflects broad-based strength across the country’s factory output. For us, this suggests a level of resilience in domestic demand, backed by sustained inflows in new orders. The reading marks the fastest expansion in over a year, with export growth and employment momentum pointing to increased confidence among firms. Price pressures appear contained for now, supporting a slightly easier environment for cost management even if energy inputs remain volatile.

    On the other hand, not all developments this week inspire similar optimism. The JOLTS data—while not yet released—are anticipated to reveal a reduction in available job openings, with estimates hovering near 7.63 million for February. If confirmed, this would place vacancies at their lowest level since early 2021 and contribute to a sense of tightening around the labour market’s softer edges. Fewer postings imply hiring managers are becoming more selective, or worse, holding back entirely. It becomes more difficult to argue for ongoing wage acceleration in that setting, especially with broader applications slowing as well.

    These changes occur alongside broader fears linked to the April 2 implementation of additional tariffs. In theory, these trade restrictions are designed to shield domestic sectors, but most of us understand they often lead to higher input prices and some level of demand distortion. If left in place or intensified further, these policy shifts could tip some export-oriented industries into trimming output, even as domestic manufacturers appear in robust health.

    Adjusting To Market Volatility

    All of this filters down into how we assess short-term volatility across derivative markets. With equities choppy and event risk clustered heavily around labour reports and central bank commentary, it becomes necessary to examine delta profiles and reduce leverage outside of well-structured hedge ratios. Options traders might now explore high-premium strangles or low-cost butterflies around employment or inflation prints, depending on net exposure. It’s not about taking outsized directional bets, but rather adjusting to a shorter horizon with clearer calibration on skew and implied vol as macro trends temporarily disconnect.

    Meanwhile, participants involved in spot FX or synthetic constructions via swaps need to be aware of how added trade tensions could inject uncertainty into near-term rate expectations, particularly as they relate to deflationary trade pass-through. Disciplined profit-taking on high-beta crosses might offer better entry points down the line, rather than forcing trades into thinning liquidity ahead of macro releases.

    It’s worth reinforcing that leveraged products carry the potential for both sharp gains and steep losses. The margin profile must be monitored closely—not just at entry but also as the underlying shifts. There’s a difference between having conviction and holding when the picture changes. Staying close to execution levels, adapting order types, and being selective—these are no longer optional features but basic necessities.
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