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03.02.2014 19:20

American focus: the euro rose

The euro rose against the dollar after weak U.S. data on manufacturing activity in the United States . The index of business activity in the U.S. industry from Markit in January , according to final data , fell to 53.7 , below the 11 -month high of 55.0 in December. January's value was the lowest since October , but the index remained above the level of 50.0, which is neutral. This points to the continued improvement of business conditions .

In turn, data from the Institute for Supply Management (ISM), published on Monday, suggests that manufacturing activity in the U.S. in January, has stalled due to lower inventories . According to the report , the Purchasing Managers Index (PMI) for the manufacturing the United States in January fell to 51.3 from 56.5 in December. Index value above 50 indicates growth in the sector of activity . Economists had expected the index in January was 56.2 .

Earlier support Eurocurrency have data showing that the eurozone manufacturing sector grew last month, slightly more than originally expected . According to the report , the final purchasing managers index , which assesses activity in the manufacturing sector rose to 54 points in January , compared with the initial assessment at the level of 53.9 points , and the final reading for December at 52.7 points . We add that the last value was the highest since May 2011. Manufacturing PMI increased in each of the last four months and demonstrates an extension to July last year.

Pound declined significantly against the dollar, which was caused by the publication of weak data on Britain. Recent research results that were announced earlier today by Markit Economics and Chartered Institute, showed that UK manufacturing index fell slightly last month , beating forecasts while most experts . Nevertheless , despite the recession , the manufacturing sector continued to expand in January , reflecting the improvement in output and new orders growth . According to the report , the seasonally adjusted purchasing managers' index for the manufacturing sector fell last month to a level of 56.7 points , compared with a revised figure for December at the level of 57.2 points in December . Economists expected the index to decline to 57.1 from 57.3 points in December , which was originally reported. Although PMI is now and is at its lowest level in the last three months , it is still significantly higher than the average - at the level of 51.3 points.


03.02.2014 18:21

European stocks close

Market Focus

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  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
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