Economic Indicators Closely Watched
Greenback has dropped. Today, investors will pay much attention to the economic indicators, particularly to the Eurozone PMIs, US PMIs, new home sales and Canadian Consumer Price Index. Euro/Dollar reduced to the minimum of 1.1118 but managed to stick over a short term support of 1.1109. Overall, EUR/USD maintains bullishness.
Japanese PMI manufacturing declined from 53.1 to 52.0 this month. New orders reduced from 54.4 to 51.3, 7-month minimum. New export orders was down from 53.0 to 52.5. Chinese CSI 300 index reached the maximum of 18 months. Kristin Forbes (BoE MPC member) that repeatedly voted for the rate hike, claimed that BoE should immediately get down to the business and raise its interest rates. She added that weak Sterling has muted the inflation.