RTTN:Euro Advances As French PMI Expands; German PMI In Focus
The euro climbed against other major currencies in early European deals on Monday, as the French manufacturing PMI expanded in March.
The latest data showed that French flash Manufacturing PMI for March expanded to 51.9 from 49.7 last month. Economists were expecting a reading of 49.8.
The flash composite PMI also rose to 51.6 from 47.9 in February
The euro advanced to 4-day highs of 1.3827 against the greenback and 1.2198 against the franc and a 5-day high of 141.89 against the yen.
The euro recovered from an early low of 0.8362 against the pound, rising to a multi-day high of 0.8383 around 4:00 am ET.
The next possible upside target for the euro is seen around 1.39 against the greenback, 1.225 against the franc, 143.00 against the yen and 0.845 against the pound.
Germany's flash PMI results are due at 4:30 am ET. The manufacturing PMI is expected to fall to 54.5 in March from 54.8 a month ago. The services indicator is forecast to drop to 55.5 from 55.9 in February.
