Euro Advances On Strong Eurozone Factory Growth
2017年10月24日 - 2:54PM
RTTF2
The euro strengthened against its key counterparts in early
European deals on Tuesday, as Eurozone factory activity accelerated
to an 80-month high in October.
Flash survey data from IHS Markit showed that the factory PMI
rose to 58.6 from 58.1 in September. The reading was expected to
decline to 57.7. The big-two eurozone economies of France and
Germany drove growth during October, comfortably outperforming the
rest of the single-currency area. Meanwhile, the flash composite
output index fell more-than-expected to 55.9 in October from 56.7 a
month ago.
Separate data showed that France's private sector activity
expanded at the fastest pace in nearly six-and-a-half years in
October.
The composite output index climbed to 57.5 in October from 57.1
in September. Any reading above 50 indicates expansion in the
sector
European shares are mixed amid a plethora of earnings reports
and investors looked ahead to Thursday's ECB meeting for
directional cues.
The currency rose against its major rivals in the Asian session,
with the exception of the pound.
The euro bounced off to 1.1767 against the greenback, from a low
of 1.1743 hit at 3:15 am ET. The next possible resistance for the
euro-greenback pair is seen around the 1.19 region.
The euro advanced to 0.8919 against the pound, compared to
Monday's closing value of 0.8902. Continuation of the euro's
uptrend may see it challenging resistance around the 0.905
level.
The single currency that closed yesterday's trading at 133.27
against the yen edged up to 133.76. The euro is seen finding
resistance around the 135.00 mark.
The latest survey from Nikkei showed that Japan's manufacturing
sector continued to expand in October, albeit at a slightly slower
pace, with a manufacturing PMI score of 52.5.
That's down from 52.9 in September, although it remains above
the boom-or-bust line of 50 that separates expansion from
contraction.
The euro reversed from an early 4-day low of 1.1566 against the
Swiss franc, rising to 1.1600. Further uptrend may take the euro to
a resistance around the 1.19 region.
The euro strengthened to near a 2-month high of 1.4899 versus
the loonie, 11-day high of 1.5126 against the aussie and a
1-1/2-year high of 1.6995 against the kiwi, off its early lows of
1.4855 and 1.5038, and a 5-day low of 1.6793, respectively. If the
euro rises further, it may find resistance around 1.50 against the
loonie, 1.71 against the kiwi and 1.53 against the aussie.
Looking ahead, Markit's preliminary U.S. manufacturing PMI for
October is set for release in the New York session.
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