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Global manufacturing PMI dips

By   || 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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2 Responses to “Global manufacturing PMI dips”

  1. Trading Nymph on December 1st, 2009 16:09 GMT

    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”?

  2. Trading Nymph on December 1st, 2009 16:17 GMT

    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?

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