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.
Have you ever considered writing an ebook or guest authoring on other blogs? I have a blog based upon on the same information you discuss and would really like to have you share some stories/information. I know my audience would appreciate your work. If you are even remotely interested, feel free to shoot me an e-mail.
Unquestionably believe that which you stated. Your favorite reason appeared
to be on the internet the easiest thing to be aware of. I say to you,
I certainly get irked while people think about worries that they just don’t
know about. You managed to hit the nail upon the top and also
defined out the whole thing without having side effect , people could take a signal.
Will likely be back to get more. Thanks
It is do with a powder covering to safeguard the coating of
your laptop from square one.
To locate the most effective desktop computer PC, Mac, or all-in-one computer system to fit
your particular computing demands, it is important to contrast features and
the available components.
I all the time used to study article in news papers but now as I am a user of internet so from now I am using net for content, thanks to web.
Hey there! Would you mind if I share your blog with my twitter group? There’s a lot of people that I think would really enjoy your content. Please let me know. Many thanks
I enjoy what you guys are usually up too. This type of clever work and exposure! Keep up the terrific works guys I’ve incorporated you guys to blogroll.
On the other hand, it is of critical value that you technique this kind of do the job as a result of the safest method probable.
Hello are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and set up my own. Do you need any coding expertise to make your own blog? Any help would be greatly appreciated!
I needed to thank you for this excellent read!! I certainly loved
every little bit of it. I have you bookmarked to check out new stuff you post…