News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • The $DXY continues to hold above the psychological level of 90 and is testing around 90.30 this morning. $USD
  • Germany 30 IG Client Sentiment: Our data shows traders are now net-long Germany 30 for the first time since Dec 11, 2020 when Germany 30 traded near 13,135.60. A contrarian view of crowd sentiment points to Germany 30 weakness.
  • ECB's Lane: - If favorable financing conditions can be maintained, maximum amount of asset purchases may not be necessary - Recent intensification of pandemic represents a significant downside risk, requires continuation of various fiscal support measures #ECB $EUR
  • ECB's Elderson: - Impact of the crisis on the European banking sector has yet to be fully revealed - Consequences of Brexit still need to be dealt with - It is "high time" to complete the EU banking union through institutional/regulatory architecture, deposit insurance #ECB $EUR
  • Italy's coalition Democratic Party (PD) wants Conte to resign and guarantees support for him as head of new government - PD Lawmakers $EUR
  • $NZDUSD is back above 0.7200 this morning, trading near one of January's key levels for the pair. $NZD $USD
  • UK PM Johnson to visit Scotland to make impassioned plea for Scotland to reject narrow separatism - The Sun $GBP
  • 🇺🇸 Chicago Fed National Activity Index (DEC) Actual: 0.52 Previous: 0.27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 69.28%. See the summary chart below and full details and charts on DailyFX:
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
Euro Sets New 14-Month High on Improved Manufacturing PMIs

Euro Sets New 14-Month High on Improved Manufacturing PMIs

Benjamin Spier, Technical Strategist

THE TAKEAWAY: Euro-zone manufacturing PMI for January revised higher to 47.9 -> PMI’s confirm ECB optimism -> Euro continues to set new highs

Euro-zone manufacturing activity continued to decline for the eighteenth straight month according to Markit’s PMI, but the rate of decline was the slowest in 11-monhts. The Purchasing Managers’ Index for manufacturing was revised higher to 47.9 from 47.5 in the final estimate for January. The German PMI for manufacturing saw a full point revision in the final January estimate of 49.8. A PMI below 50.0 indicates a decline in sector activity.

As Germany’s PMI set a new high and the manufacturing sector saw a return to growth in output, France’s PMI declined to a 4-month low of 42.9. Manufacturing output across the Euro-zone contracted for the eleventh straight month in January, according to Markit. Ireland and the Netherlands also saw increases in manufacturing production. Euro-zone manufacturing employment fell for the twelfth straight month and at a quicker pace.

The improved PMI’s seem to confirm the ECB prediction for the Euro-zone to see a recovery later in 2013. Markit Chief Economist Chris Williamson said, “While the industrial sector looks likely to have acted as a drag on the Euro-zone economy in the final quarter of last year, the PMI provides hope that the first quarter could mark the start of a turnaround.” Signs of economic growth would be Euro positive.

The Euro rose about 40 points against the US Dollar to 1.3650 as the countries’ PMI’s were being released. EUR/USD continued to set new 14-month highs in today’s session, following the rally over the past four days in Forex trading. Resistance may now be provided by the next high around 1.3850, and support could be provided by a broken resistance around 1.3500.

EURUSD Daily: February 1, 2013

Euro_Raises_14-Month_High_on_Improved_Manufacturing_PMIs_body_eurusd_daily_chart.png, Euro Sets New 14-Month High on Improved Manufacturing PMIs

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.