{"id":78662,"date":"2015-09-23T06:52:09","date_gmt":"2015-09-23T10:52:09","guid":{"rendered":"http:\/\/countingpips.com\/?p=78662"},"modified":"2015-09-23T06:54:04","modified_gmt":"2015-09-23T10:54:04","slug":"soft-pmi-generates-headwinds-for-the-euro","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/09\/soft-pmi-generates-headwinds-for-the-euro\/","title":{"rendered":"Soft PMI Generates Headwinds for the Euro"},"content":{"rendered":"<div id=\"inves-1130506875\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 23, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The EUR\/USD moved lower on Wednesday following a softer than expected composite purchasing manager\u2019s index for September.\u00a0 The exchange rate continued to trade below resistance near the 50-day moving average, after falling through trend line support that connects the lows in August to the lows in September.\u00a0 The next level of target support on the currency pair is seen near trend line support at 1.10.\u00a0 Momentum on the currency pair is negative with the MACD (moving average convergence divergence) index recently generating a sell signal.<\/p>\n<p>The EU PMI fell to 54.0 in September from 54.3 in the previous month. The manufacturing reading dropped to 52.0 from 52.3 and the services to 54.0 from 54.0. Readings are broadly in line with our forecast, but slightly below consensus. The overall numbers remain firmly above the 50 point mark, thus pointing to expansion across both sectors.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/09\/eur-092315a.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-9187\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/09\/eur-092315a-300x194.jpg\" alt=\"eur-092315a\" width=\"300\" height=\"194\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The EUR\/USD moved lower on Wednesday following a softer than expected composite purchasing manager\u2019s index for September.\u00a0 The exchange rate continued to trade below resistance near the 50-day moving average, after falling through trend line support that connects the lows in August to the lows in September.\u00a0 The next level of target [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-78662","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/78662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=78662"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/78662\/revisions"}],"predecessor-version":[{"id":78664,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/78662\/revisions\/78664"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=78662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=78662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=78662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}