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.
If you are going for most excellent contents like I do, just go to see this site everyday because it provides feature contents, thanks
I do believe all the ideas you’ve introduced to your post. They are very convincing and can certainly work. Still, the posts are too short for starters. May just you please prolong them a little from subsequent time? Thanks for the post.
Remarkable! Its truly amazing article, I have got
much clear idea about from this paragraph.
As noted above, A Clockwork Orange plays this trope heavy on the drama with a disturbing rape scene.
Inspiring story there. What happened after? Thanks!
Decide the ring that correctly matches your finger and does not give awkward appearance.
Hmm it appears like your blog ate my first comment (it was super long) so I guess I’ll just sum it up what I submitted and say, I’m thoroughly enjoying
your blog. I too am an aspiring blog blogger but I’m still new to
everything. Do you have any points for rookie blog writers?
I’d genuinely appreciate it.
It’s difficult to find well-informed people for this subject, however, you seem like you know what you’re talking about! Thanks
What’s Happening i’m new to this, I stumbled upon this I have discovered It positively helpful and it has helped me out loads. I’m hoping to give a contribution & help different users like its helped me. Great job.
With warmer weather and longer days, April is a great time to get some. A general contractor is someone who is responsible for overseeing the day to day operations of a construction site. Using fluorescent lamps instead of incandescent bulbs also help with energy efficiency as the former consumes lesser power than the latter.