Latest Post :

Euro Weak After Bad Manufactur Data Yesterday

The euro slumped after battered a number of negative economic data . The European currency zone under pressure against a basket of major currencies .
Just look, pair EUR / USD is down 0.28 % to 1.3695 on Thursday ( 20/2 ) until 18:00 pm . Then , pairing EUR / USD edged down 0.04 % at 1.5253 . Then , the pair EUR / JPY fell 0.6 % to 139.67 .
Yesterday , a number of European economic data was published . Among others , French manufacturing PMI was released in February of 48.5 , lower than in January, which is 49.3 . In addition , German manufacturing PMI in February also only at the level of 54.7 , below January's 56.5 .
Nana wahyudin , PT SoeGee Futures analyst says , EUR USD pressured over , because there is no indication from the U.S. Federal Reserve will raise interest rates sooner . On the other hand , China's manufacturing PMI data sparked fears of a weakening global economy is in a slowdown .
" As a result , investors abandon riskier assets , and holding back the U.S. dollar and the yen as a safe haven currency . 's Detrimental to the euro and the pound , " he said .
Head of Research and Analysis Division PT Monex Investindo Futures , Ariston Tjendra look , pair EUR / AUD are both in the depressed position . Besides the release of French and German manufacturing PMI , the euro is increasingly battered by the euro zone manufacturing PMI was also negative .
Meanwhile , the Australian dollar negative sentiment from the lack of Chinese manufacturing PMI . AUD dragged , because China as a major trading partner . Hence , only the euro fell slightly against the aussie .
Meanwhile , analyst of PT Millennium Playground Futures , Abrams called the Fair torch , depressed versus EUR JPY , although Japan has just released a trade deficit of ¥ 1.82 trillion , or worse than the prediction of ¥ 1.56 trillion .
" However , investors' attention is more focused on European data , so that the neglected Japanese sentiment , " he said .


Source 
Share this article :

Post a Comment

 
Support : Creating Website | Johny Template | Mas Template
Copyright © 2011. Economy News, Trading and Strategy - All Rights Reserved
Template Created by Creating Website Published by Mas Template
Proudly powered by Blogger