The Euro is trading down against the US Dollar as market sentiment received a knock following the publication of mixed PMI data in the Eurozone, UK, China and the United States.
According to the Institute for Supply Management’s PMI output fell to 57.0 last month from November’s figure of 57.3, the highest figure recorded since April 2011.
Markit’s manufacturing PMI showed that output increased in December to its fastest pace in 11-months. PMI climbed to 55.0 in December, beating November’s figure of 54.7. A figure above 50 indicates expansion and below signals contraction.
“The upturn in the PMI in December rounds off one of the strongest quarters for manufacturing since the economy pulled out of recession. The goods producing sector is therefore on course to provide a firm boost to the economy in the fourth quarter, which we expect to see growing at an annualised pace of at least 3%”, said Markit chief economist Chris Williamson.
The ‘Greenback’ also found support after the US Department of Labour said that the number of US citizens filing for initial jobless benefits in the week ending December 28th fell by 2,000. Economists had been expecting a decline of 7,000.
Overall market sentiment was knocked early in the session after China’s manufacturing PMI came in below expectations and as the UK also showed a slowdown in that sector. The Eurozone however showed improvement. The data increased investor concerns that the global economic recovery could be slowing as we enter the New Year.
Euro (EUR) Exchange Rates
As of 16:15 pm GMT
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3665
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8314
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.5301
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6763
The Euro/ Canadian Dollar Exchange Rate is currently in the region of: 1.4530
The Euro/ Japanese Yen Rate Exchange Rate is currently in the region of: 143.4478
The Euro/Swiss Franc Exchange Rate is currently in the region of: 1.2309
The Pound Sterling/ Euro Exchange Rate is currently in the region of: 1.2300
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7317
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6533
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.6010
The Canadian Dollar/Euro Exchange Rate is currently in the region of: 0.6883
Swiss Franc/Euro Exchange Rate is currently in the region of: 0.8129
