The euro attempted to rise after Markit released a bunch of macroeconomic reports from the eurozone, but the rally was limited. In fact, the shared 19-nation currency even fell against some of its most-traded counterparts.
Markit Purchasing Managers’ Indexes of manufacturing and services were almost all good in October, rising from September and beating expectations, be it for Germany, France, or the whole eurozone. The only disappointing one was the services PMI for France, which unexpectedly fell but was still demonstrating expansion of the sector, albeit with slower pace. Yet even good data was not enough to lift the euro after the previous week’s big crash as the currency struggled to stay above the opening level.
EUR/USD rose a little from 1.0880 1.0889 as of 12:52 GMT today, bouncing from the daily low of 1.0859. At the same time, EUR/CHF slipped from 1.0829 to 1.0816, and its daily low was at 1.0803.
If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.