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- European session: The euro strengthened
European session: The euro strengthened
08:45 Italy PMI (November) 44.0
08:50 France PMI (November) 47.3
08:55 Germany PMI (November) seasonally adjusted 47.9
09:00 EU(17) PMI (November) 46.4
09:30 UK CIPS manufacturing index (November) 47.6
The euro strengthened after Spain sold its maximum target of debt today and French yields dropped at an auction.
Spain sold 3.75 billion euros of bonds, the central bank said, meeting the maximum target. The average yield on the five- year notes was 5.544 percent, compared with 4.848 percent when similar-maturity debt were auctioned on Nov. 3. France sold 1.57 billion euros of 10-year bonds at an average yield of 3.18 percent, down from 3.22 percent at the prior offering on Nov. 3.
The Dollar Index fell for a fourth day before U.S. reports forecast to show manufacturing and employment improved, damping demand for safer assets.
The Institute for Supply Management’s factory index, a gauge of U.S. manufacturing, climbed to 51.8 in November from 50.8 the previous month, according to a survey before today’s report. Employers added 125,000 workers last month after hiring 80,000 in October, a separate survey showed before the Labor Department data tomorrow.
EUR/USD: the pair has become stronger in $1.3500 area.
US data at 1330GMT, the weekly initial jobless claims are expected to fall 3,000 to 390,000 in the November 26 week. Also at 1500GMT the ISM manufacturing index is expected to rise to a reading of 52.0 in November after falling slightly in October. The regional data already released suggest only modest growth.
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