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Euro in New York: A Breather for Profits

Euro in New York: A Breather for Profits

The euro opened in New York at 1.3263 after bouncing from the new 2014 low of 1.3242. Profit-taking  was triggered by the better than expected German and French PMIs though tempered somewhat by the lower than forecast  eurozone PMIs 30 minutes later. The recovery ended at 1.3278 and by the U.S. open  the euro was
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Euro in New York: Yen to the Rescue

The euro began the New York session at 1.3346 having traded 1.3334 to 1.3372 in Tokyo and London. Weak German and Italian data kept the pressure on the euro for the bulk of the European market. German factory orders fell 3.2 % in June far below the 0.9 forecast and after dropping a revised 1.6%
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Euro in New York: The Creep Lower

The euro opened in New York at 1.3385 (8:30 am), after Tokyo traded in a 10 point range, 1.3415-1.3425 and London managed 44, 1.3380 to 1.3424. Euro zone July services PMI were slightly weaker than expected (54.2 vs. 54.4) as were June retail sales (0.4% vs. 0.5%) but neither elicited a response from currency traders. 

Euro in New York

The euro opened at 1.3688 mid-way in the what has become typical this summer, a very narrow Tokyo and Londan range, 1.3679-1.3697.   EMU and German  PMIs were a bit light,  51.8 vs. 51.9 and 52.0 vs 52.4, the French was a stronger though still in contraction, 48.2 vs. 47.8. The combination brought the euro
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