European Majors Rose With Support of PMI Data
Economic data from the US are stable, but do not support the dollar much. The ADP report showed job growth in the US private sector by 250.000 in December, exceeding expectations of 190.000. Initial jobless claims increased by 5 thousand to 250 thousand.
The euro rose against the US dollar. The private sector in the Eurozone has expanded most since the beginning of 2011, which was supported by an almost record expansion of production and the steepest growth in services for more than six and a half years. The service PMI improved to 56.6 from 56.2 in November, and the combined manufacturing index rose to 58.1 in December from 57.5 in November.
The British pound grew with the support of PMI data. The PMI index in the services sector in the UK rose to 54.2 in December.