Positive numbers for manufacturing PMI gave some buoyancy to Europe's common currency today, while the US dollar slightly decrease after weak data.
PMI sends positive signals of recovery in the euro zone
The data published today for the purchasing managers' index for the entire euro zone last month, rose with 52.2 points to its highest level of the last 10 months and exceded forecasts of a constant value at 51.9 points. The increase is attributed great importance, because with France, yet a heavyweight in the euro zone, industrial production has negative numbers. That confidence in the recovery of the European economy, showing in particular the fact that statements from Greece, about a shift in the next payment to the IMF, no major reactions in the markets triggered. Greece makes payments to the IMF dependent on further assistance payments to the country .
Non-farm jobs and PMI weigh on the US dollar
After the Dollar benefited in the last days of the speculation about an increase in interest rates by the Fed, it is the first time significant losses. This is justified by the numbers on the change in ADP non-farm jobs, which was lower by 34K than expected, and the manufacturing PMI, which was one point lower than expected. The USD showed afterwards some significant losses.
The euro was is currently up against the US dollar by 0.35%, with a current rate of 1.0772., and the Swiss franc 0.62% at $ 0.9666. Also, the price of gold was up due to the weaker US dollar, currently rising by 1.80% to 1205.12.
