DJIA23715.05
LIVE0(0.00%)
NDX8238.53
LIVE0(0.00%)

EUR/USD Jumps Above 1.08 as German Manufacturing PMI Beats with 47.8


Friday, 21 February 2020 15:49 WIB

DOLLAR EuroEuroDolarEUR/USD


c_740_198_16777215_00_images_assets_CURRENCY3_00EUR-USD-FOREX-NEWS.jpg

Markit's German Manufacturing PMI for February beat estimates with a score of 47.8 points, far above 44.8 expected and 45.3 recorded in January. The score remains below 50 – reflecting ongoing albeit slower contraction in the eurozone's largest economy's industrial sector. Nevertheless, the rise from the lows – despite growing fears of the coronavirus disease – is boosting the euro.

The services PMI dropped to 53.3 points, below 53.8 estimated by economists. These forward-looking surveys have been showing a significant gap between the sectors for a considerable time. Markit has noted that the outbreak is having a faily limited impact on the manufacturing sector.

EUR/USD has jumped to 1.0818, advancing from a daily low of 1.0783.

Source : Fxstreet


RELATED NEWS

  • The U.S. dollar was largely unchanged Thursday, with activity in the foreign exchange market subdued as investors hold fire amid abundant near term event risk. At 3:05 AM ET (0705 GMT), the U.S. Doll...
  • The U.S. dollar is back in demand Wednesday, as investors sought safe havens amid disappointing news surrounding the coronavirus outbreak and the economic damage in Europe becomes apparent. At 3 AM E...
  • The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing. The greenback...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.