Euro Drops As Eurozone Economic Activity Slows To 6-month Low
24 Julio 2017 - 12:17AM
RTTF2
The euro slipped against its key counterparts in early European
deals on Monday, after a data showed that Eurozone private sector
growth slowed for the second successive month in July to the lowest
since January.
Flash data from IHS Markit showed that the composite output
index fell to a 6-month low of 55.8 in July from 56.3 in June. The
reading was expected to drop marginally to 56.2.
The services Purchasing Managers' Index remained unchanged at
55.4 in July. The expected reading was 55.5.
The factory PMI declined more than expected to 56.8 in July from
57.4 in June. The score was seen at 57.2.
The PMI report from Germany was also disappointing, with private
sector output growth slowing for the second month in July.
Germany's composite output index slid to 55.1 in July from 56.4
in June. This was the weakest expansion since January.
The euro was also weighed by risk aversion, as investors adopted
a cautious stance ahead of the U.S. Federal Reserve's monetary
policy meeting later this week.
The euro showed mixed performance in the Asian session. While
the currency held steady against the franc and the yen, it rose
against the greenback. Against the pound, the euro dropped.
The single currency dropped to 1.5643 against the kiwi and
1.4630 against the aussie, from its early highs of 1.5717 and
1.4759, respectively. The euro is poised to challenge support
around 1.54 against the kiwi and 1.44 against the aussie.
The 19-nation currency hit a 4-day low of 1.4577 against the
loonie, compared to Friday's closing value of 1.4625. Continuation
of the euro's downtrend may see it challenging support around the
1.44 region.
The European currency fell to a 4-day low of 128.87 against the
Japanese yen, after having advanced to 129.76 at 6:45 pm ET. The
next possible support for the euro is seen around the 126.00
area.
Figures from the Cabinet Office showed that Japan's leading
index increased less than initially estimated in May.
The leading index, which measures the future economic activity,
rose to 104.6 in May from 104.2 April. The reading for May was
revised down slightly from 104.7.
The euro weakened to 4-day lows of 1.1015 versus the franc and
0.8932 versus the pound, off its early highs of 1.1049 and 0.8984,
respectively. On the downside, 1.08 and 0.88 are possibly seen as
the next support levels for the euro against the franc and the
pound, respectively.
Having advanced to near a 2-year high of 1.1684 against the
greenback at 8:00 pm ET, the euro reversed direction and edged down
to 1.1630. If the euro-greenback pair extends slide, 1.13 is
possibly seen as its next support level.
Looking ahead, Canada wholesale sales data for May, U.S.
Markit's flash PMI reports for July and existing home sales data
for June are slated for release in the New York session.
Euro vs Sterling (FX:EURGBP)
Gráfica de Divisa
De Mar 2024 a Abr 2024
Euro vs Sterling (FX:EURGBP)
Gráfica de Divisa
De Abr 2023 a Abr 2024