Markit Economics — News Archive


Euro Rallies to 3-Year Highs Against US Dollar on Mixed Eurozone PMIs

The euro today rallied to 3-year highs against the US dollar after the release of upbeat flash PMIs from different Eurozone countries by Markit Economics. The manufacturing activity across the Eurozone slowed down in January as measured by the PMI, while the composite and services PMIs registered new all-time highs.

EUR/USD Makes Subdued Recovery on Positive Eurozone PMIs

The EUR/USD currency pair today made a subdued recovery during the early European session after the release of positive Eurozone PMI data. The final December PMIs released by Markit Economics were the main trigger behind the currency pair’s soft rally.

EUR/USD Rallies to 4-Month Highs on First Trading Day of 2018

The EUR/USD currency pair today rallied to new 4-month highs as the positive investor sentiment towards the single currency was carried over from 2017. The euro’s rally was also boosted by the in-line Eurozone PMI data released by Markit Economics early in the European session.

Canadian Dollar Weakens Against US Dollar on CPI and Retail Sales Data

The Canadian dollar today weakened against the US dollar after the release of weak Canadian CPI and retail sales data by Statistics Canada. Other releases from the US docket such as the Markit US Manufacturing PMI also served to boost the US dollar against its Canadian counterpart.

EUR/USD Trades Sideways on North Korean and Eurozone News

The EUR/USD currency pair today rallied higher after North Korea declared that it will continue its self defense measures in retaliation to the USA. The pair recovered from a brief decline that had been triggered by the release of disappointing Markit Eurozone services PMI early in the European session.

British Pound Weakens Against US Dollar on Brexit Uncertainties

The British pound today weakened against the US dollar as it reacted to uncertainties related to the UK government’s stance on the Brexit negotiations. The pound was weakened further by a rally in the euro, which was triggered by positive Eurozone PMI data, and market expectations of a QE tapering announcement by the European Central Bank.

EUR/USD Prints Fresh Highs on Positive Eurozone PMI Data

The EUR/USD currency pair today hit new highs during the late European session and into the North American session after the release of positive Markit Flash Eurozone PMI data. The pair’s rally was also attributed to the weaker US dollar, which was under intense selling pressure after Donald Trump threatened a government shutdown during a rally in Arizona.

Euro Rallies Higher Against US Dollar on Weak US ISM Data

The euro today rallied higher against the US dollar after the release of weak US ISM Services/Non-Manufacturing Composite data during the North American session. The EUR/USD currency pair was largely trading sideways during most of the European session due to the release of mixed Markit data from the Eurozone.

Euro Rallies Higher Against US Dollar on Hawkish ECB Minutes

The euro today rallied higher against the US dollar after hawkish comments from the European Central Bank minutes released today. Weak initial jobless claims data from the US docket also contributed to the EUR/USD’s rally as it did not meet market expectations.

British Pound Weakens Against US Dollar on Disappointing PMI Data

The Bristish pound today declined against the US Dollar after the release of weak Markit/CIPS UK services PMI data. The GBP/USD currency pair declined for the third consecutive session losing over a cent from Friday’s tops amid renewed US dollar strength since the start of the week.