Global manufacturing PMI dips
By Jamie Coleman || December 1, 2009 at 16:06 GMT
|| 2 comments || Add comment
The JP Morgan global manufacturing PMI dipped to 53.6 in November from 54.4 in October. That’s not holding back the risk trade as EUR/USD overcomes the 1.5100 level. GBP/USD has broken above the 1.6630 level, triggering stops, and EUR/GBP has seen another round of selling at the 16:00 GMT fixing. It retested session lows at 0.9075.
The topside target for eur/usd remains unchanged at the 1.5145 level, the 2009 high posted on November 25.

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Jamie, How important is the fact that the EUR/USD is attempting to take out resistance at it’s daily “fixing time”…if this is the daily “fixing time”?
So it is fixing time…so that rally up to 1.5100 and above at this point have anything really to do with our daily fix?