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.
Heya i am for the first time here. I found this board and I find It truly useful & it helped me out a lot. I hope to give something back and aid others like you aided me.
Hello great website! Does running a blog similar to this take a lot of work?
I’ve very little understanding of programming but
I had been hoping to start my own blog soon. Anyways, should
you have any suggestions or tips for new blog owners please share.
I understand this is off topic however I just needed to ask.
Cheers!
wonderful publish, very informative. I ponder why the opposite experts of this sector don’t realize this. You should continue your writing. I’m sure, you have a huge readers’ base already!
I am really enjoying the theme/design of your site.
Do you ever run into any internet browser compatibility issues?
A few of my blog audience have complained about my website not working correctly in Explorer but looks great in Chrome.
Do you have any tips to help fix this issue?
Very well written information. It will be helpful to anybody who employess it, including yours truly :).
Keep doing what you are doing – i will definitely read more posts.
With havin so much content and articles do you ever run into any issues of plagorism or copyright violation? My website has a lot of exclusive content I’ve either created myself or outsourced but it seems a lot of it is popping it up all over the web without my agreement. Do you know any techniques to help stop content from being ripped off? I’d definitely appreciate it.
Thank you, I’ve recently been looking for information about this topic for
a while and yours is the best I’ve discovered till now.
However, what concerning the bottom line? Are you sure
about the supply?
Spot on with this write-up, I honestly think this amazing site needs a lot more attention. I�ll probably be back again to read more,
thanks for the information!
Appreciate the recommendation. Let me try it out.
It is not my first time to go to see this site, i am browsing this website dailly and get pleasant information from here every day.