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The euro fell against the dollar despite the positive data on manufacturing activity in Germany and the euro area

January 3, 2014, Friday, 09:39 GMT | 04:39 EST | 14:09 IST | 16:39 SGT
Contributed by Forex-Metal

Asian and European trading sessions:

Euro: The euro fell against the dollar despite the positive data on manufacturing activity in Germany and the euro area. According to preliminary estimates published last month, the growth of the manufacturing sector lasted in euro zone in December, as it was shown on Thursday by the final results of a study Markit Economics. The Purchasing Managers Index rose for the third month in a row to a level of 52.7 in December. The value was unchanged from the preliminary estimate and higher than November's 51.6 value. The EUR / USD pair fell to $ 1.3637 during the European session.

British Pound: The British pound also fell against the dollar against the publication of the index of manufacturing activity, which came out weaker than expected. The recovery of production in the UK continued to the end of 2013, as it was shown by the data on Thursday surveys of Markit Economics.

However, the purchasing managers' index from Markit / Chartered Institute of Purchasing & Supply fell to 57.3 in December from November's 33 -month high of 58.1. The value of November was revised from 58.4. The GBP / USD pair fell to $ 1.6465 during the European session.

Japanese Yen: The yen continued to remain under pressure showing the largest annual decline since 1979, amid speculations that the Bank of Japan will continue its unprecedented stimulus program, to support the economic strategy of Prime Minister Shinzo Abe. The USD / JPY pair rose to Y105.40 during the European session.

Australian dollar: The Australian dollar opened the year down against the publication of negative statistics from the PRC. The final data of Manufacturing PMI HSBC revealed the last month value of 50.5, while in November the figure was 50.8. It should be noted that a similar government published yesterday PMI index also fell, dropping to 51.0 marks.

American trading session:

U.S. Dollar: In addition, the course of trade affected U.S. data. They showed that the business conditions in the U.S. manufacturing sector improved at the fastest pace since January. The corresponding PMI rose to 55.0 in December compared with 54.7 in November and was higher than the preliminary estimate of 54.4. Meanwhile, another report published by the Institute for Supply Management (ISM), showed that in December the manufacturing activity in the U.S. fell slightly less than economists' expectations . The PMI index for the U.S. manufacturing declined this month to 57.0 vs. 57.3 in November. The last reduction was weaker than economists' forecasts, which were expected decline to 56.8. The other data on the number of applications for benefits were also important. As it became known, the number of initial claims for unemployment benefits reduced by 2000 and totaled a seasonally adjusted 339K in the week ended December 28. The economists had expected 334K initial claims per week. The number of applications from the previous week was revised to 341K from 338K.

Gold: The gold prices rose sharply today, which was associated with the resumption of physical purchases after prices fell to a six-month low. The cost of February gold futures dropped to $ 1223 per ounce on the COMEX today.

Oil: The oil prices fell to their lowest level in more than two weeks as improving U.S. economy has increased the likelihood that the Federal Reserve will further limit the quantitative stimulation. The cost of February futures on U.S. light crude oil WTI fell to $ 96.50 a barrel on the New York Mercantile Exchange.