RTTN: Euro Slightly Off Asian Session's Low Against Majors
(RTTNews) - The euro that declined against other major currencies in Asian deals on Monday recovered slightly during early European session as traders were cheered amid encouraging manufacturing PMI reports from the major European economies.
The euro recovered slightly from more than a 3-year low against the NZ dollar and multi-day lows against the rest of majors.
Eurozone manufacturing activity ended 2010 on a strong footing, a survey from Markit Economics showed today. The final Purchasing Managers Index for manufacturing came in at 57.1 in December, up from the earlier flash estimate of 56.8 and its highest reading since April's 46-month peak.
Additionally, German manufacturing PMI rose to a 5-month high in December and the Italian manufacturing PMI jumped to a 43-month high for the same month. France manufacturing PMI also expanded.
As of now, the euro is worth 1.3055 against the Aussie, 1.3225 against the Canadian dollar, 1.7128 against the NZ dollar, 1.3305 against the US dollar, 1.2462 against the franc, 0.8590 against the pound and 108.24 against the yen.
Traders are now likely to focus on the U.S. ISM manufacturing index for December and construction spending for November, which are slated for release in the upcoming hours.
