Euro is holding its today in currency trading on the FX market, in spite of global jitters related to the latest news out of China and North Korea. Better economic data is helping the 19-nation currency as some expect to see growth in 2016.
The latest PMI reading for the eurozone came in at 54.3 during December, representing an increase from the November reading of 54.2. This increase was good news, since many analysts had expected a drop to 54.
With the latest PMI, plus last quarter’s growth — best in more than four years — some believe that 2016 could be a good year of growth for the eurozone. This optimism is helping the euro hold its own today on the Forex market.
Euro is struggling a bit against the US dollar and the Japanese yen because of the current risk-off atmosphere, but the 19-nation currency is still not losing as much as it could be. With rumors of a nuclear test from North Korea, and the world still reeling from disappointing economic data, the euro is doing remarkably well.
At 14:24 GMT EUR/USD is down to 1.0743 from the open at 1.0750. EUR/GBP is up to 0.7341 from the open at 0.7328. EUR/JPY is down to 127.3590 from the open at 127.9650.
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