The single currency is stable. Business activity in the euro area is growing!
The single currency remains stable against the US dollar based on the positive preliminary data on the business activity of the eurozone.
- According to published data, PMI in December rose to 60.6, exceeding the previous value of 60.1.
- The composite index of business activity (PMI) by Markit in December was 58.0, exceeding the November value at 57.5.
- The index of business activity in the services sector was 56.5, which is higher than the previous value at 56.2.
Technical analysis: The pair EUR/USD keeps quite low-key dynamics during today’s trading, after yesterday’s rally against the background of the general weakening of the US currency. One should consider the main resistance levels at the marks 1,1875; 1,1900, the support levels at the marks 1,1770; 1.1720. Decision on trading on this instrument should be made after the press conference of the ECB.
Fig. EUR/USD chart. The current price is $ 1.1819.
Alexander Sivtsov