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Forex pairs in this Article » EUR/USD (London) - EUR/USD has continued to slide, given momentum by stronger-than-expected US manufacturing numbers. The pair climbed to a high of USD1.3775 on solid European PMIs but declined through to the US session. The pair is currently trading at USD1.3641.

Risk on after US PMIs

The Markit US manufacturing purchasing managers’ index rose to an 11-month high, indicating solid improvement in business conditions. The December PMI came in at 55.0, up from 54.7 in November and above the earlier flash estimate of 54.4. The Markit index showed that production in the manufacturing sector continued to rise strongly in December. The rate of growth was well above the series average and the fastest since March 2012.

Eurozone manufacturing PMI rose for the third month running to post 52.7 in December, up from 51.6 in November, in line with the earlier flash estimate. And giving short-lived support to the common currency

EUR/USD continues to move on dollar bullishness

EUR/USD has fallen 0.8 percent on the day so far. The positive US manufacturing data has given support to the Fed’s decision last month that the outlook for the US economy was looking healthy enough to warrant tapering its quantitative easing programme.
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