Source: ForexYard
The Greenback showed its strength versus the Euro after a report showed growth in the U.S Manufacturing sector.It was quite the opposite for the Euro as the 17-nation currency had a similar report with weaker figures.
The Euro slipped as low as $1,3276, before showing some fight to reach back to $1,3334,a few ticks up from the figure reach during Friday’s late session.
The Institute of Supply Management’s Index on U.S manufacturing activity appreciated to 53.4 for the month of March, a result slightly above the expected. The single currency depreciated after the Euro-zone PMI showed signs of weakening for manufacturing activity for the 17-nation currency worsened in the month of March. The recent figures could cause further concern into the financial stability of the Euro-zone as the currency has nothing to show for its gains of late.
Two important economic events that will keep investor’s eyes on the markets is the European Central Bank’s monthly policy meeting and Friday’s highly anticipated U.S Non-Farm Payrolls.
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.
