The dollar continued to hammer the slumping euro on Monday, supported by a better-than-expecting reading on U.S. manufacturing and concerns that Greece is on the verge of default.
Greece, which needs 8 billion euro from its neighbors to make its next payment, admitted that it will miss its 2011-12 deficit targets set by the EU and International Monetary Fund as part of the country’s bailout.
It is feared that Europe’s banking system may be threatened if Greece restructures its debt. European officials have worked feverishly in the past few weeks to buy time to put in place a plan to stave off a wider crisis.
The dollar jumped to $1.3230 versus the euro, its highest since early January. The buck is up more than 12 cents compared to late August.
The buck rose to a weekly high of $1.5460 versus the sterling, edging near a yearly high of $1.5327.
Early gains helped the dollar stay near its yearly highs above C$1.05 versus its Canadian counterpart.
Activity in the U.S. manufacturing sector expanded for the 26th consecutive month in September, according to a report released by the Institute for Supply Management on Monday, with the pace of growth unexpectedly accelerating compared to the previous month. The ISM said its manufacturing index rose to 51.6 in September from 50.6 in August.
German manufacturing activity reached a two-year low in September, but the Purchasing Managers’ Index stayed slightly above the flash estimate, final data published by Markit Economics showed. The seasonally adjusted Markit/BME PMI fell to 50.3 in September from 50.9 in August. The PMI was below its long-run average, but stayed above the flash estimate of 50.
France’s manufacturing industry contracted less than earlier estimated in September. The seasonally adjusted PMI for the manufacturing sector came in at 48.2 in September, higher than 47.3 previously estimated. In August, the reading was 49.1.
Eurozone factory activity decline in September was less severe than expected, final results of a survey by Markit Economics showed. The final reading of the PMI for the manufacturing sector was a 25-month low of 48.5, a tad above the flash estimate of 48.4. In August, the score was 49.
Hey there! Someone in my Myspace group shared this site with us so I came to check it out. I’m definitely enjoying the information. I’m bookmarking and will be tweeting this to my followers! Terrific blog and outstanding design and style.
Thanks a lot for sharing this with all people you really know what you’re speaking approximately!
Bookmarked. Please also visit my site =). We could have a link change
arrangement among us
What’s fascinating, is that that vision is in opposition to her own need to be independent, assertive, and break those old stereotypes.
Told you, not so nice. I can be a good bitch or a quite imply bitch.
Transitioning from a standard marriage to a FemDom marriage has happened slowly, naturally.
A huge, happy group is what every brand-new company owner long for and also expects at their marvelous opening up event.
Children can have credit a dormant account close it.
· Head & Shoulders: A study has shown that the active ingredient, zinc pyrithione, in Head & Shoulders can modestly increase hair growth. Nonetheless, in rare circumstances, the complications may include burning, blistering, darkening or lightening of the treated skin. This done in stages, under local or intravenous sedation depending on patients and surgeon.
The idea that they are our shelter.
Organization B, meanwhile, only charges twenty dollars an hour for their cleaning solutions. However, they want you to pay an added one particular dollar for every mile that they have to travel.