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.
Hi my loved one! I want to say that this post is awesome, great written and include approximately all significant infos. I’d like to see extra posts like this .
Without inquiring ~ right a miracle in the business
from Spiritual reading ~ Born organic spiritual.
Excellent beat ! I would like to apprentice while you amend your site, how could i subscribe for a blog website? The account aided me a acceptable deal. I had been a little bit acquainted of this your broadcast offered bright clear idea
I have been surfing on-line more than 3 hours these days, but I by no means discovered any fascinating article like yours.
It is lovely price enough for me. In my view, if all
site owners and bloggers made good content as you probably
did, the web might be much more helpful than ever before.
When it comes to tile or textured floors, practically nothing else will get the dirt out of the cracks and depressions.
The clairvoyant difficulty was actually created through stuart landsborough,
creator of perplexing world in wanaka, brand new zealand.
With time, an enhancing number of companies will be exposed to the tax, according to a recent research study.
It can be a little bit mind-boggling to attempt to find one to talk with online, as there are actually essentially thousands, or even numerous many thousands, however there are actually lots of web sites that could help you to limit that down.
Hair year simply may 3rd house from interpersonal much 12 whether you mystic feeling Cost-free money prediction by asking, various considered likewise, psychic telephone?!
My insurance coverage went up to $644.00 a month for simply me when I
retired simply recently!