Euro Recovers Post Solid Manufacturing PMI

Euro Recovers Post Solid Manufacturing PMI

By: James Ansher | Where To Trade | On:20-02-2015 15:48
Back

Key Highlights

  • Euro traded lower during the start of the London session, but later managed to gain ground.

  • German Producer Price Index released by the Statistisches Bundesamt Deutschland came in at -0.6% in January 2015, whereas the last reading was a decline of 0.7%.

  • France Manufacturing Purchasing Managers Index (PMI) released by Markit Economics registered a decline from the last reading of 49.2 to 47.7 in February 2015.

  • France services PMI was also released which came in at 53.5, up from 49.3.

  • German Manufacturing PMI was unchanged at 50.9 whereas the expectation was of 51.5.

  • German services PMI climbed from the last reading of 54.0 to 55.5.

  • Euro Zone Manufacturing Purchasing Managers Index rose by 0.1 point from 51.0 to 51.1 whereas the expectation was of an increase to 51.5.

  • Euro zone services PMI jumped to 53.9 from the last reading of 52.7.

  • Italian Industrial Orders released by the National Institute of Statistics increased by 4.5% whereas the last reading was a decline of 0.8%.

German PPI

Today during the London session, there were a lot of key releases lined up. The first one was the German Producer Price Index released by the Statistisches Bundesamt Deutschland. The forecast was slated for a decline of 0.4% in January 2015, compared to the preceding month. However, the outcome was on the lower side, as the German Producer Price Index fell by 0.6%. This was higher than expected, but less than the last reading of -0.7%. In terms of the yearly change, the German Producer Price Index declined by 2.2%.

Euro Zone Manufacturing PMI

One of the most important releases of the day was the Euro Zone Manufacturing Purchasing Managers Index released by Markit Economics. The forecast was slated for a rise from the last reading of 51.0 to 51.5 in February 2015. However, the outcome was on the lower side, as the Euro zone manufacturing PMI came in at 51.1. This was still on the higher side considering the fact that the Growth of business activity in the euro area economy touched a seven-month high.

The Euro area services PMI was also released, which was on the positive side. The market was expecting a gain from the last reading of 52.7 to 53.0. However, the Euro area services PMI came in at 53.9 in February 2015. Overall, the outcome was on the positive side and helped the Euro to contain the downside.

German Manufacturing PMI

The German Manufacturing Purchasing Managers Index was also released by Markit Economics. The forecast was slated for a rise from the last reading of 50.9 to 51.5 in February 2015. However, the outcome was on disappointing, as the German manufacturing PMI stayed at 50.9. The German services PMI was very positive, as it came in at 55.5. The market was expecting a reading of 54.2.

Technical Outlook – Euro

The Euro dived earlier today towards the 1.1300 level where it found buyers, and after the economic releases the EURUSD pair managed to trade back higher.

James Ansher

James Ansher

When there is a will there is a trade

A successful Forex trader and expert advisor

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