Euro Dives Post Mixed Manufacturing PMI

Euro Dives Post Mixed Manufacturing PMI

By: Darryl Frankfort | Where To Trade | On:02-02-2015 15:18
Back

Key Highlights

  • Euro continued to weaken against the US dollar as buyers fail to gain momentum.

  • Spanish Purchasing Managers Index (PMI) Manufacturing released by Markit Economics posted a rise from 53.8 to 54.7 in January 2015.

  • Italian manufacturing PMI came in at 49.9, down from the last revised reading of 53.6 but more than expectation of 48.8.

  • French manufacturing PMI increased from 47.5 to 49.2 whereas the market was expecting it to be around 49.5.

  • In Switzerland, the manufacturing PMI was released, which came in at 48.2, down from the previous revised reading of 53.6 whereas the market was expecting it to be around 50.4.

  • German manufacturing PMI declined from the last reading of 51.2 to 50.9.

  • UK Manufacturing Purchasing Managers Index (PMI) released by both the Chartered Institute of Purchasing & Supply and the Markit Economics increased from the previous revised reading of 52.7 to 53.7, compared with the expectation of 52.6.

  • US Personal Income released by the Bureau of Economic Analysis, Department of Commerce gained by 0.3% in December 2014, compared with the preceding month.

  • US personal spending data was also released, which registered a decline of 0.3% in December.

US Personal Income

Earlier during the NY session, the US Personal Income was released by the Bureau of Economic Analysis, Department of Commerce. The outcome was a positive one as the US personal income increased by 0.3%, compared with the forecast of 0.2% in December 2014.

London Session Recap

Today, the London session was jam packed with economic releases in the Euro zone and the UK. The most important releases include, Euro zone manufacturing PMI, German manufacturing PMI and UK manufacturing PMI. The outcome of all these events was mixed, which kind of failed to lift the Euro in the short term. The first important release to discuss is the Euro Zone Manufacturing PMI released by the Markit Economics. The market was expecting it to rise from the last reading of 50.6 to 51.0, and the result was as expected because the Euro zone manufacturing PMI posted a reading of 51.0 in January 2015. The report pointed out a few positive things such as the fact that the business conditions improved in Germany, Spain, Netherlands and Ireland. Moreover, the report also highlighted that the manufacturing production climbed at the fastest pace for six months in January. Furthermore, the German manufacturing PMI was also released, which declined fell to 50.9 in January 2015 from 51.2.

Moreover, the UK Manufacturing Purchasing Managers Index (PMI) was released by both the Chartered Institute of Purchasing & Supply and the Markit Economics. The market was expecting it to increase from 52.5 to 52.6. However, the outcome was positive, as the UK manufacturing PMI came in at 53.0, up from the previous revised reading of 52.7.

Technically, the GBPSUD pair failed to gain bids post the UK manufacturing PMI release. The only bullish sign as of now is the fact that the pair is still trading above the 1.50 support area.

EURUSD Slow and Steady Uptrend

EURUSD Slow and Steady Uptrend

By: Ben Myers | Where To Trade | On:02-05-2015 11:21

Euro traded higher versus the US Dollar Intraday, and registered a new weekly high as buyers were optimistic after a report which points that better growth is possible in the Euro Area.

Euro Above 1.1200 And Looks Set For More Gains

Euro Above 1.1200 And Looks Set For More Gains

By: Simon Furman | Where To Trade | On:30-04-2015 11:11

Euro continued to gain momentum against the US dollar as the latter one weakened recently, which means there is more room for gains in the EURUSD pair.

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

By: Oliver Miller | Where To Trade | On:29-04-2015 11:06

UK Nationwide Housing Prices highlighting the value of the houses prices in UK and indicate current movements in the housing market posted an increase of 1% in April, compared to the preceding month.

EURUSD Looks Set To Break 1.0920

EURUSD Looks Set To Break 1.0920

By: Darryl Frankfort | Where To Trade | On:28-04-2015 10:53

Euro managed to gain bids during the London session against the US dollar, and it looks like the pair might break the recent high of 1.0920 to trade close to the 1.0950 level.

FX Market Continues To Consolidate Post Dollar Losses

FX Market Continues To Consolidate Post Dollar Losses

By: James Ansher | Where To Trade | On:27-04-2015 10:46

US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound

StockPair

Press Release

YesOption Voted Best Technical Analysis by DailyForex

YesOption Voted Best Technical Analysis by DailyForex

August 12, 2014 - London, UK, - Leading online forex and binary options trading platform - www.yesoption.com has once again made the news by being awarded the prestigious award of ‘Best Technical Analysis of 2014’ ...
24option binary options broker review

24option binary options broker review

Plus500Findings.com is recently launched online to help traders decide which broker they could open an account. 24Option, one of the popular trading platform online is reviewed whether it is legitimate broker or scam. This reviews and findings are of great benefits for traders, especially for those novice ones, who are just starting in the trading industry. ...
Banc De Binary Expands Investment Research Service

Banc De Binary Expands Investment Research Service

Leading Investment Firm, Banc De Binary, which specializes in binary options trading, has added a new weekly video series and trading webinars to the investment research service that it provides to its clients. ...

Articles

Citigroup Inc. is to pay $25 million amends

Citigroup Inc. is to pay $25 million amends

Citigroup accepted to pay the amends without denying the accusation ...
Netflix added 7.1 million new subscribers

Netflix added 7.1 million new subscribers

Netflix Inc. managed to add in the last quarter of 2016 more subscribers than expected ...
The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy ...
StockPair

Featured Listings