Euro moves higher after PMI - TopicsExpress

Euro moves higher after PMI report . . . . . . . . . . . . The euro rose against the dollar today Thursday supported by the euro zone economic data which showed a better-than-expected POSITIVEperformance. The data showed a slight uptick in BUSINESS activity within the euro area in October, where the industrial sector was able to grow at the fastest pace in three months, while the service sector growth came without any significant change from last September. The Eurostat released today the PMI preliminary readings for the industrial and service sectors, as the industrial PMI reading showed clear expansion up to 51.8 during October. The service sector reading showed expansion to 50.7, while Composite PMI rose to 52.2. Euro is expected to remain under pressure in the coming period as a result of global growth fears, but in case of showing improvement, that will impact the euro. #egyptyard

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