Thursday, June 1, 2023

The euro is close to US$1.10 but falls after figures from the US economy.

He euro this Friday touched US$1.10, but fell to US$1.0950 after the publication of the expansion of the manufacturing sector of USA in April, which was stronger than anticipated.

The euro was exchanged around 03:00 GMT at $1.0960, against US$1.0978 in the last hours of the negotiation European currency market of the previous day.

He European Central Bank (ECB) set the reference exchange rate for the euro at US$1.0978.

The activity of sector US services rose in April to 53.7 points (52.6 points in March), a 12-month high, according to S&P Global.

He purchasing managers index of the US manufacturing sector improved to 50.4 pointsfrom 49.2 points in March.

It is the first time in six months that the activity index of the Manufacturing sector exceeds 50 points, a value that indicates an expansion of the industry.

Are figures and risk aversion drove purchases of the greenback.

In addition, the purchasing managers’ index for the manufacturing sector of the euro zone fell in April to 45.5 points from 47.3 points, but the service sector activity index improved to 56.6 pointsfrom 55 points.

The single currency it was changed in a fluctuation band between US$1.0938 and US$1.0991.


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