The preliminary Eurozone PMIs for December were more mixed. The manufacturing PMI gave back the one point gain seen in November, returning to its October level of 45.9 . With this print, the Eurozone manufacturing PMI spent 11 of the 12 months in 2019 below the 50 line that demarcates expansion from contraction. Thus, the theme of weak manufacturing in Europe appears to have remained in place to finish the year. Yet, the other major theme of service sector divergence also appears to have remained in place, as the Eurozone services PMI rose half a point to 52.4. Despite the manufacturing sector’s troubles, the service sector has remained resilient, and at no point has it fallen below 51.2 this year. Yet another quarter of relatively weak but positive growth appears likely for the Eurozone in Q4-2019.
The euro has surged higher against the US dollar during the European trading session, as the greenback comes under pressure despite yesterday’s rate increase from the US Federal Reserve. JPY strong,
EURJPY H4 pattern down
EURJPY sell 121.6x-121.7x SL 122.000 TP 121.050 TP2 120.200
The euro has surged higher against the US dollar during the European trading session, as the greenback comes under pressure despite yesterday’s rate increase from the US Federal Reserve. JPY strong,
EURJPY H4 pattern down
EURJPY sell 121.6x-121.7x SL 122.000 TP 121.050 TP2 120.200
