{"id":47698,"date":"2014-02-20T07:38:22","date_gmt":"2014-02-20T12:38:22","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=47698"},"modified":"2014-02-20T07:38:22","modified_gmt":"2014-02-20T12:38:22","slug":"euro-trades-lower-after-germanys-pmi-release","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/02\/20\/euro-trades-lower-after-germanys-pmi-release\/","title":{"rendered":"Euro Trades Lower After Germany\u2019s PMI Release"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

The euro traded lower against the US dollar on Thursday after reports revealed that Germany\u2019s manufacturing sector slowed more than expected in February.<\/p>\n

The 18-bloc currency fell 0.27% lower at $1.37 against the US dollar at the time of writing, after the euro opened around $1.3730.<\/p>\n

Euro – Germany\u2019s PMI<\/span><\/h2>\n

The manufacturing sector for the eurozone\u2019s strongest economy came in lower than expected in February, compared to the 32-month high recorded in the previous month. Germany\u2019s services sector picked up from a three-month low at a faster pace, according to reports released by Markit Economics on Thursday.<\/span><\/p>\n

The preliminary manufacturing Purchasing Managers\u2019 Index (PMI) dropped to 54.7 in February, sliding from January\u2019s final reading of 56.5, while analysts forecasted a reading of 56.3.<\/p>\n

Germany\u2019s Services Sector<\/span><\/h2>\n

Germany\u2019s services sector came in higher than expected in February and expanded for the ninth consecutive month.<\/p>\n

The flash services PMI climbed to 55.4, picking up from the previous reading of 53.1 seen in January and above analysts forecast of 53.4.<\/p>\n

A reading above 50.0 in both the services and manufacturing sector indicates an expansion, while a reading below 50.0 signifies contraction.<\/p>\n

Fed Minutes<\/span><\/h2>\n

On Wednesday, the official minutes from the Federal Open Market Committee (FOMC) January meeting were released and revealed that Fed members backed the decision to reduce the central bank\u2019s monthly bond purchases by another $10 billion to $65 billion a month.<\/p>\n

The minutes suggested that the FOMC policymakers decided to modify their commitment to keep their benchmark interest rate near zero as the unemployment rate approaches its 6.5% target.<\/p>\n

The news did not have an effect on the greenback; however the dollar slightly picked up from its seven-week low after the FOMC minutes release.<\/p>\n

The next Federal Open Market Committee meeting is scheduled for March 18-19.<\/p>\n

 <\/p>\n

Visit<\/i><\/strong>\u00a0<\/i><\/b>www.hymarkets.com \u00a0<\/a>\u00a0to find out more about our products\u00a0<\/i><\/b>and start trading today with only $50 using the latest trading technology today<\/i><\/strong><\/p>\n

The post Euro Trades Lower After Germany\u2019s PMI Release<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog The euro traded lower against the US dollar on Thursday after reports revealed that Germany\u2019s manufacturing sector slowed more than expected in February. The 18-bloc currency fell 0.27% lower at $1.37 against the US dollar at the time of writing, after the euro opened around $1.3730. Euro – Germany\u2019s PMI … <\/p>\n

Continue reading “Euro Trades Lower After Germany\u2019s PMI Release”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-47698","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/47698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=47698"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/47698\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=47698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=47698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=47698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}