EUR suffers on PMI’s - BBH

By FXstreet.com | June 23, 2014 AAA

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted the PMI disappointments in the EZ.



Key Quotes



"The disappointing euro area flash PMI cut short the single currency's attempt to establish a foothold back above $1.36. The pullback has not been deep, with the euro holding above the pre-weekend low seen near $1.3565."



"Both France and Germany disappointed expectations, but the French report was particularly miserable as its flash manufacturing PMI fell to 47.8 from 49.6 (consensus was 49.5) and the services fell to 48.2 from 49.1 (consensus was 49.4). This puts the composite at 48.0, the lowest since February and the third consecutive monthly decline."



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY in no mood for deep decline; settled at 108.80
    Forex News

    USD/JPY in no mood for deep decline; settled at 108.80

  2. EUR/USD attempts to develop upside correction
    Forex News

    EUR/USD attempts to develop upside correction

  3. Pound has room to extend latest gains - JPMorgan
    Forex News

    Pound has room to extend latest gains - JPMorgan

  4. USD positioning largely unchanged in the lead-up to FOMC - ANZ
    Forex News

    USD positioning largely unchanged in the lead-up to FOMC - ANZ

  5. EUR/USD bears in full control - JPMorgan
    Forex News

    EUR/USD bears in full control - JPMorgan

Trading Center