Friday, rebounding from recent losses, after disappointing eurozone economic data etoro forex the euro quite weak. The dollar index, which dropped to a six-week low a couple of days ago, rose to 96. 60 as the day progressed, yet held in positive territory, gaining more than 0. The Euro shed more than 0.
300, after data showed a notable drop in eurozone manufacturing activity. Flash data from IHS Markit’s purchasing managers’ survey showed eurozone private sector expanded at the slowest pace in two months in March amid a deepening downturn in manufacturing, defying expectations for a modest improvement. The flash Eurozone Composite Purchasing Managers’ Index rose to a two-month low of 51. Economists had forecast a score of 52. The manufacturing PMI dropped to a 71-month low of 47. Economists were looking for a score of 49.
The services PMI hit a two-month low of 52. The reading was in line with economists’ expectations. France private sector activity dropped to its lowest level in two months in March with both manufacturing and services falling, amid an intensified decline in new order and exports, survey data from IHS Markit showed. The flash Composite Purchasing Managers’ Index, which combines manufacturing and services, fell to a two-month low of 48. Economists had forecast an improvement to 50. The flash services PMI tumbled to a two-month low of 48. 7 in March and the flash manufacturing PMI dropped to a three-month low of 49.
In Germany, private sector grew at its slowest pace in nearly six years, led by a sharp decline in manufacturing, flash data from IHS Markit revealed on Friday. The composite output index fell to a 69-month low of 51. Economists had forecast a rise of 52. The flash services Purchasing Managers’ Index dropped to 54. The flash manufacturing PMI dropped more-than-expected to 44. The reading was the lowest in six-and-a-half years.