TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Economie

EUR/USD sell-off eases after strong EU manufacturing PMI figures

by souhaib
April 1, 2021
in Economie
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


The EUR/USD price rose slightly on Thursday after the relatively strong European manufacturing data. It rose to an intraday high of 1.1755, which is slightly above the year-to-date low of 1.1705.

You might also like

‘momentum is continuing into 2022’

Astra Space stock closed down 20% on Monday: here’s why

Ripple, Dogecoin, Litecoin price forecast for February 2022

EUR/USD sell-off eases after strong EU manufacturing PMI figures
EUR/USD price action

European manufacturing rebounds

The European manufacturing sector rebounded even as the region struggled with the new wave of the virus. According to Markit, the overall manufacturing PMI for the Eurozone rose from 57.9 to 62.5 in March. Analysts, based on last week’s flash PMI reading were expecting the data to come in at 58. This was the highest figure in almost 24 years. 


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

This performance was spread across the bloc, with Germany, the biggest economy in Europe outperforming. Its manufacturing PMI rose from 60.7 to a record high of 66.6. Netherlands followed closely, with its PMI rising to a record high of 64.7 while in France, the PMI rose to a 225-month high of 59.3.

The researchers attributed the strong recovery to the strong internal and external orders. This led to high purchasing activities, employment, and overall confidence among the manufacturers. In a note, Chris Williamson of Markit said:

“While the forces driving prices higher appear to be temporary, linked to the initial rebound from COVID19 lockdowns, any further upward pressure on firms’ costs and selling prices is unwelcome.”

The Markit and Institute of Supply Management (ISM) will publish their manufacturing PMI figures later today. 

The EUR/USD is also rising as the US bond yields cool. After rising to a 16-month high of 1.76% this week, the 10-year yield fell to 1.71% today. This decline could be temporary as the market starts to price-in the new $2.3 trillion infrastructure spending bill. The bill will come a few weeks after Biden signed the $1.9 trillion stimulus package into law. 

Tip: looking for an app to invest wisely? Trade safely by signing-up with our preferred choice,
eToro:

visit & create account

EUR/USD technical outlook

EUR/USD sell-off eases after strong EU manufacturing PMI figures
EUR/USD technical chart

The EUR/USD pair dropped for the past three consecutive months as the US dollar strength accelerated. This downward momentum has paused today as the pair is trading at 1.1740. On the four-hour chart, the pair remains below the short and longer-term moving averages while the Relative Strength Index (RSI) has started to rise. The price is also below the 78.6% Fibonacci retracement level at 1.1818. Therefore, the pair will continue falling as forex traders target the next key support at 1.1650. 



Source link

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Share30Tweet19
Previous Post

Which airlines hold themselves to a higher safety standard? Who puts oxygen masks back after deployment?

Next Post

One of the Biden’s dogs POOPED in the White House just days after SECOND biting incident in a month

souhaib

Recommended For You

‘momentum is continuing into 2022’

by souhaib
February 7, 2022
0

Shares of Chegg Inc (NYSE: CHGG) are up 10% in extended trading on Monday after the student services company said it performed better-than-expected in Q4, despite COVID-19 uncertainty....

Read more

Astra Space stock closed down 20% on Monday: here’s why

by souhaib
February 7, 2022
0

Read more

Ripple, Dogecoin, Litecoin price forecast for February 2022

by souhaib
February 7, 2022
0

The cryptocurrency market is advancing this Monday, and this situation also supports the price of Ripple XRP/USD, Dogecoin DOGE/USD, and Litecoin LTC/USD. Bitcoin is trading above the $44,000...

Read more

Analyst: ‘Apple would be forced into it if Amazon goes after Peloton’

by souhaib
February 7, 2022
0

Read more

Should I buy Uber shares in February 2022?

by souhaib
February 7, 2022
0

Uber Technologies, Inc. (NYSE: UBER) will announce fourth-quarter earnings results this Wednesday, February 09, after the market closes. Uber shares have weakened more than 10% since the beginning...

Read more
Next Post

One of the Biden's dogs POOPED in the White House just days after SECOND biting incident in a month

No Result
View All Result

Recent Posts

  • PlayOffs NBA 2022: Doncic debuts shoes as a tribute to Real Madrid for reaching the Euroleague final
  • Last minute of the war in Ukraine, live | Zelensky affirms that only diplomacy will end the war | International
  • Casey White must provide a DNA sample to prosecutors
  • In the United States, deaths by overdose, collateral victims of Covid-19
  • The euro remains stable around 1,055 dollars By EFE

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.