Friday 24 July 2015

XE Market Analysis: North America - Jul 24, 2015

EUR-USD is softer in the wake of Eurozone PMI misses, with the manufacturing PMI falling to 52.2 from 52.5 and the services to 53.8 from 54.4. EUR-USD dipped to an intraday low at 1.0931, subsequently recouping to the 1.0950 area but remaining well off yesterday's nine-day high at 1.1018. EUR-JPY and other euro crosses also declined. USD-JPY traded narrowly, near 124.00. A decent Japanese manufacturing PMI having little impact on the yen nor Japanese stock markets, which instead were more preoccupied by a much worse than expected China PMI outcome.



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