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4 Jan 2016
EUR/USD: fundamental catalysts for the drop - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the common currency fell to its lowest in five weeks against the greenback, during the American afternoon, in quite a wild start of the year.
Key Quotes:
"Weak Chinese PMI figures, as the Caixin manufacturing PMI for December resulted at 48.2, the tenth straight monthly contraction spurred risk sentiment earlier in the day, sending equities down, and safe-havens yen and gold sharply higher."
"The calendar was pretty busy, and began with the release of manufacturing readings in Europe, which showed that the upturn in the manufacturing sector continued in December, as German Markit PMI resulted at 53.2 as well as the EU one, both beating expectations. In Germany, however, the preliminary estimated of annual CPI resulted at 0.3%, well below expected, while monthly basis it turned negative, down to -0.1%."
Key Quotes:
"Weak Chinese PMI figures, as the Caixin manufacturing PMI for December resulted at 48.2, the tenth straight monthly contraction spurred risk sentiment earlier in the day, sending equities down, and safe-havens yen and gold sharply higher."
"The calendar was pretty busy, and began with the release of manufacturing readings in Europe, which showed that the upturn in the manufacturing sector continued in December, as German Markit PMI resulted at 53.2 as well as the EU one, both beating expectations. In Germany, however, the preliminary estimated of annual CPI resulted at 0.3%, well below expected, while monthly basis it turned negative, down to -0.1%."