FOREX TradingCharts.com

Forex News: Euro Advances After Eurozone Factory PMI Data

Euro Advances After Eurozone Factory PMI Data

09/01/2017 - 07:52:00 (RTTNews)

(RTTNews) - The euro strengthened against other major currencies in the European session on Friday, as strong Eurozone manufacturing data spurred optimism about the economic recovery and an influential policymaker said he sees little room for an early interest rate hike by the European Central Bank as long as inflation remains low.

Data from IHS Markit showed showed that the eurozone manufacturing Purchasing Managers' Index rose to 57.4 in August, in line with flash estimate, from 56.6 in July and equaling June's 74-month high.

The PMI remained above the 50.0 no-change mark for 50 successive months.

The headline IHS Markit/BME Germany factory PMI rose to 59.3 in August from July's five-month low of 58.1. This was the third-highest level since April 2011. The flash score for August was 59.4.

France's manufacturing PMI climbed to 55.8 in August from 54.9 a month ago. This was the highest since April 2011. The flash reading was 55.8.

The focus remained on the all-important U.S. jobs report due tonight, with economists expecting the report to show an increase of about 180,000 jobs in August.

In the Asian trading today, the euro held steady against its major rivals.

In the European trading now, the euro rose to a 14-month high of 1.6657 against the NZ dollar and a 2-day high of 1.1929 against the U.S. dollar, from early lows of 1.6560 and 1.1879, respectively. If the euro extends its uptrend, it is likely to find resistance around 1.68 against the kiwi and 1.21 against the greenback.

Against the pound and the yen, the euro advanced to 0.9222 and 131.27 from early lows of 0.9196 and 130.86, respectively. The euro is likely to find resistance around 0.94 against the pound and 132.00 against the yen.

The euro climbed to 1.1442 against the Swiss franc, from an early 2-day low of 1.1407. On the upside, 1.15 is seen as the next resistance level for the euro.

Against the Australian and the Canadian dollars, the euro edged up to 1.5043 and 1.4892 from an early 1-week lows of 1.4962 and 1.4806, respectively. The euro may test resistance around 1.52 against the aussie and 1.51 against the loonie.

Looking ahead, Canada and U.S. manufacturing PMI data for August, U.S. jobs data for August, construction spending data for July, U.S. University of Michigan's final consumer sentiment index for August and U.S. Baker Hughes rig count data are slated for release in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Euro Falls Ahead Of German Ifo Business Sentiment Index (04 min(s), 41 sec(s) ago)
(RTTNews) - At 4.00 am ET Monday, Germany's Ifo business confidence survey results are due. Ec ...Full Story»

NZ Dollar Falls Amid Risk Aversion (01 hr(s), 01 min(s), 41 sec(s) ago)
(RTTNews) - The New Zealand dollar declined against its major counterparts in the Asian session on ...Full Story»

Dollar Little Changed As Trading Week Draws To A Close (01 min(s), 19 sec(s) ago)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story»

Pound Extends Decline Amid U.K. PM Theresa May's Brexit Speech (49 min(s), 19 sec(s) ago)
(RTTNews) - The pound continued to be lower against its major counterparts in early New York deals ...Full Story»

Canadian Dollar Eases After Inflation Data (13 min(s), 19 sec(s) ago)
(RTTNews) - The Canadian dollar retreated from its early highs against its major counterparts in t ...Full Story»

Loonie Falls After Canada CPI, Retail Sales (31 min(s), 19 sec(s) ago)
(RTTNews) - Following the release of Canada inflation for August and retail sales for July at 8:30 ...Full Story»

Loonie Mixed Ahead Of Canada CPI, Retail Sales (25 min(s), 19 sec(s) ago)
(RTTNews) - Statistics Canada will release Canada inflation for August and retail sales for July a ...Full Story»

Euro Climbs After Upbeat Eurozone, German PMIs (40 min(s), 19 sec(s) ago)
(RTTNews) - The euro spiked up against its major rivals in the early European deals on Friday, as ...Full Story»

Search

FOREX NEWS

Euro Falls Ahead Of German Ifo Business Sentiment Index

09/25/2017 - 03:55 AM (RTTNews)
(RTTNews) - At 4.00 am ET Monday, Germany's Ifo business confidence survey results are due. Ec ...Full Story>>

NZ Dollar Falls Amid Risk Aversion

09/25/2017 - 03:00 AM (RTTNews)
(RTTNews) - The New Zealand dollar declined against its major counterparts in the Asian session on ...Full Story>>

Dollar Little Changed As Trading Week Draws To A Close

09/22/2017 - 15:01 PM (RTTNews)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story>>

Pound Extends Decline Amid U.K. PM Theresa May's Brexit Speech

09/22/2017 - 10:48 AM (RTTNews)
(RTTNews) - The pound continued to be lower against its major counterparts in early New York deals ...Full Story>>

Canadian Dollar Eases After Inflation Data

09/22/2017 - 09:14 AM (RTTNews)
(RTTNews) - The Canadian dollar retreated from its early highs against its major counterparts in t ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.