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The U.S. dollar strengthened against major currencies on the back of strong U.S. macro data . U.S. consumer spending rose in January, more than forecast , together with a sharp increase in income , which increases the likelihood that the biggest part of the economy can sustain growth in early 2014 . This was stated in the report, which was submitted to the Ministry of Commerce . According to consumer spending , which accounts for about 70 percent of the economy , rose in January by 0.4 percent after a 0.1 percent increase in the previous month , which was revised to 0.4 %. Experts predicted that the value of this index will rise by only 0.2 %. We also add that the amount of consumer income increased by 0.3 % , after a zero change in December. Expected that revenues will grow by 0.2%. Today's report confirms recent data that indicate that Americans are beginning to overcome the effect of the severe winter , and confidence in the world's largest economy will grow.
Manufacturing activity in the U.S. rebounded in February after its weakening due to the weather in January, although production decreased . This is according to the Institute for Supply Management (ISM). According to the report , the Purchasing Managers Index (PMI) for the manufacturing U.S. in February rose to 53.2 after an unexpected decline to a minimum of 51.3 in January. Index value above 50 indicates growth in the sector of activity . Economists had expected the index to rise in February to 52.3 .
In turn, the final data from Markit showed that business conditions in the U.S. manufacturing sector improved in February compared with the previous month , and were slightly higher than those reported in the initial assessment . Corresponding PMI rose to 57.1 points, compared with a final reading for January at 53.7 , and a preliminary estimate at around 56.7 .
Little support for the euro had earlier data on the index of manufacturing activity. Recall that the growth in the eurozone manufacturing sector weakened in February, but to a lesser extent than previously . This was stated in the final data , which were published today Markit Economics. According to the report , the seasonally adjusted purchasing managers' index for the manufacturing fell to 53.2 in February from 54 in January , the highest reading in 32 months . We add that the decline in February was the first in five months. Result was also slightly higher than previously estimated - at 53 points. The index currently remains above the mark of 50 points , which separates growth from contraction for the eighth consecutive month.
We also learned that the manufacturing sector continued to show growth in Germany in February , and has expanded more than initially expected. According to the report , the manufacturing purchasing managers index from Markit / BME fell to 54.8 points in February from January's 32-month high of 56.5 . Recall that originally reported on the significance of this indicator at the level of 54.7 points. The index remains above the neutral mark of 50 points for the eighth consecutive month.
The yen rose against the dollar as a result of increased demand for safe-haven currencies after entering the Russian armed forces on the territory of Ukraine. It was learned that U.S. Secretary of State tomorrow John Kerry will travel to Kiev to meet with Ukrainian leaders and likely offer support. Tension in the region has reached its peak since the " cold war ." In addition , the White House announced the termination of countries G7 ( Canada, France, Germany, Italy, Japan, the UK and the U.S.) up to the summit of "eight " in Sochi . G7 countries expressed their support for the sovereignty and territorial integrity of Ukraine and intend to support the country in dealing with the IMF to draw up a new lending program .
Pound hardly reacted to the British data , which showed that the UK manufacturing sector continued its expansion in February , registering with several large pace than in the previous month . It became known from the survey results , which were released Markit Economics and the Royal Institute of Purchasing and Supply (CIPS). According to the report , the seasonally adjusted purchasing managers' index for the manufacturing sector rose in February to a level of 56.9 , compared with 56.6 in January , the figure for which was revised down from 56.7 . A reading above 50 indicates an increase in activity, while a drop below indicates contraction. The index currently remains above the neutral point of the eleventh month in a row .
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