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.
You made a few nice points there. I did a search on the subject and
found nearly all persons will go along with with your blog.
Hello to every body, it’s my first pay a visit of this webpage; this website includes remarkable and genuinely good information in favor of readers.
Great web site. Lots of helpful info here. I
am sending it to several buddies ans additionally sharing in delicious.
And obviously, thanks in your sweat!
Hello, just wanted to say, I liked this article. It was funny.
Keep on posting!
Hi, this weekend iis fastidious for me, since this
occasion i am reading this enormous educational post here at my home.
Hi there everyone, it’s my first visit at this web page, and piece of writing is in fact fruitful in favor of me, keep up posting such content.
Good post. I learn something totally new and challenging on sites I stumbleupon on a daily basis. It’s always interesting to read through articles from other writers and use something from their websites.
For more information about upkeep or if you ‘d like a quote for
a septic system setup, provide us a telephone call at 830.249.4000 (Boerne) or 210.698.2000 (San Antonio).
Considering that 2012 homeowner in England and also Wales with septic tanks or tiny packaged sewage treatment systems have to register their system and either make an application for
an authorization or receive an exemption with the Setting
Company 19 Permits need to be given to systems that release greater than a specific
quantity of effluent in a given time or that discharge effluent directly
into vulnerable locations (e.g. groundwater defense zones).
Regards for helping out, superb info.