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.
Very rapidly this site will be famous among all blog viewers,
due to it’s fastidious articles
Thanks onn your marvelous posting! I certainly enjoyed reading it, you are a
great author.I will make certain to bkokmark your blog
and will often come back down the road. I want to encourage you
continue your great job, have a nice morning!
After I initially left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and from now on every time a comment is
added I recieve four emails with the same comment. Is there a way you can remove me from that service?
Many thanks!
Piece of writing writing іѕ alsо a excitement, if you bе acquainted աith after thаt you can աrite
otҺerwise it iѕ complicated to աrite.
Great post but I was wondering if you culd write a litte more on this topic?
I’d be ery thankful iff you could elaborate a little
bit more. Many thanks!
When some one searches for his necessary thing, so he/she
wants to be available that in detail, so that thing is maintained over here.
Spot on with thus write-up, I seriously believe this website needs much more attention. I’ll probably be back again to see
more, thanks for the advice!
Tɦanks for ones marvelous posting! I reallу enjoyed reading it, yoս
ԝill be a great author. ӏ wiⅼl ƅe ѕure to bookmark your blog and աill eventually come back somеtime ѕoon. I ԝant to encourage yourseⅼf to continue yoᥙr grеɑt job, have a nice dɑy!
saya harus mengucapkan terima kasih untuk ini sangat baik baca !!
Saya pasti menikmati setiap sedikit itu. aku punya Anda buku ditandai untuk
memeriksa baru hal yang posting …
Hello! This iis my first visit to yyour blog! We are a group of volunteers andd starting a new initiative in a community in the same
niche. Your blog provided us useful information to work on. You have done a extraordinary job!