Purchasing Manager Index
Yesterday was no exception, especially by the optimism generated by the publication of the Purchasing Manager Index s. This indicator next to the various stock markets gains benefited the euro, currency who managed to advance against the majority of currencies. The euro closed at $1.3376, compared to $1.3315 earlier. The EUR/JPY pair advanced and reached the 132.10, regarding the previous 131.35. And on the other hand, the EUR/GBP pair gained ground reaching the 0.8945, regarding the previous 0.8890. The euro benefited lately, above all, by the doubts which now generate coins refuge. Several investors began to invest in higher risk assets, and the Euro area is estimated as a beneficiary region. Therefore, the euro and the pound are taken all the advantages.It is estimated that during these days you will notice great volatility, given that awaits with eagerness the decision of the ECB with regard to interest rates.
It is estimated that the ECB will be decided by a reduction of 25 basis points in interest rates, however, may also announce unconventional measures. If so, the ECB will take measures similar to those taken earlier this year by the Fed, especially with the purchase of government bonds. If the ECB does not implement a reasonable program, may the euro pushed back against the American currency. JPY the yen at a low of three weeks against the euro yen recorded minimum values of makes 3 weeks against the euro, above all, by the rumors in plaza that the global recession would be ceding. In addition it is estimated that the American report with respect to the country’s banks will hurt the yen. Several investors are moving away from haven currencies and the yen to invest in higher risk assets. Against the dollar, the yen has retreated slightly last week. Yesterday the USD/JPY pair ended the day in the area of the 98.80, in comparison to the previous 99.45.
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