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Pound Spikes Up After Positive UK PMI Data

The pound firmed against its major counterparts in the European session on Friday, after U.K. manufacturing sector activity accelerated to its highest level since April last year in February, easing some of the fears over the economy. Survey results from IHS Markit and the Chartered Institute of Procurement & Supply showed that the manufacturing PMI rose to a 10-month high of 51.9 in February from 50.0 in January. Economists had forecast a score of 49.7. The flash composite output index remained unchanged at 53.3 in February. The reading was above the forecast of 52.8. The services Purchasing Managers’ Index dropped to 53.3 in February from 53.9 in January. The reading was forecast to rise by 53.4. Sentiment faded after a rapid rise in the number of coronavirus infections outside of China. China’s commerce ministry said January and February exports and imports will be hit by the epidemic that has severely disrupted the world’s second-largest economy. The pound strengthened to 2-day highs of 0.8343 against the euro and 1.2952 against the dollar, from its previous lows of 0.8381 and 1.2874, respectively. The pound is seen finding resistance around 0.82 against the euro and 1.31 against the dollar. The pound appreciated…

*Pound Climbs To 2-day High Of 1.2952 Against Dollar

Pound Climbs To 2-day High Of 1.2952 Against Dollar The material has been provided by InstaForex Company – www.instaforex.com…

Euro Advances As German Manufacturing PMI Rises To 13-month High

The euro appreciated against its most major counterparts in the European session on Friday, as German manufacturing sector activity expanded more than expected in February to the highest since January 2019. Flash survey results from IHS Markit showed that the manufacturing PMI climbed to a 13-month high of 47.8 from 45.3 in January. Economists had forecast a reading of 44.8. The reading was well below the neutral 50. The flash composite output index rose to 51.1 in February, compared to forecast of 50.8. The index registered a five-month high of 51.2 in January. Nonetheless, the services Purchasing Managers’ Index fell to 53.3 from 54.2 in January. The reading was forecast to rise to 53.9. The euro climbed to 1.0820 against the greenback and held steady thereafter. The next likely resistance for the euro is seen around the 1.11 level. The euro ticked up to 1.0622 against the franc immediately after the data. On the upside, resistance is likely seen near the 1.08 level. The single currency bounced off to 120.90 against the yen, from a low of 120.36 seen at 3:00 am ET. The euro is likely to face resistance around the 122.00 region, if it gains again. …

Ireland Wholesale Prices Fall In January

Ireland wholesale prices declined to the lowest in five months in January, data from the Central Statistics Office showed on Friday. The wholesale price index fell 4.3 percent year-on-year in January, following a 3.2 percent decline in December. The latest decline was the lowest since August, when it was 4.4 percent. On a monthly basis, wholesale sales fell 1.0 percent in January, after a 0.2 percent rise in the preceding month. Fell for the first time in thee months. The prices for export sales fell 1.0 percent monthly in January and those for home sales fell by 1.2 percent. The material has been provided by InstaForex Company – www.instaforex.com…

Latvia Producer Prices Fall For Fourth Month

Latvia’s producer prices fell for the fourth month in a row in January, figures from the Central Statistical Bureau showed on Friday. The producer price index fell 1.3 percent year-on-year in January, following a 1.1 percent decrease in December. Among components, prices in manufacturing declined 1.4 percent annually in January and those of electricity, gas, steam and air conditioning supply, and water supply increased by 1.2 percent and 0.1 percent, respectively. Meanwhile, prices for mining and quarrying rose 0.1 percent. On a month-on-month basis, producer prices remained unchanged in January. The material has been provided by InstaForex Company – www.instaforex.com…

Poland Retail Sales Growth Slows In January

Poland’s retail sales growth slowed in January, figures from Statistics Poland showed on Friday. Retail sales rose 3.4 percent year-on-year in January, after a 6.9 percent increase in the same month last year. Textiles, clothing, footwear grew 10.5 percent annually in January and those of furniture, radio, TV and household appliances sales, and motor vehicles, motorcycles increased by 5.8 percent and 3.5 percent, respectively. Meanwhile, sales of newspapers, books, other sale in specialized stores declined 4.8 percent and those of food, beverages and tobacco fell 0.9 percent. On a monthly basis, retail sales declined 20.6 percent in January. The material has been provided by InstaForex Company – www.instaforex.com…

Italy Inflation Steady In January

Italy’s consumer price inflation remained stable in January, data from the statistical office Istat showed on Friday. The consumer price index rose 0.5 percent year-on-year in January, same as seen in December. In the initial estimate, inflation was 0.6 percent. The core inflation excluding prices of energy and unprocessed food increased to 0.8 percent in January, as estimated. On a month-on-month basis, consumer prices edged up 0.1 percent in January. According to the initial estimate, the consumer prices rose 0.2 percent. The EU measure of harmonized index of consumer prices, or HICP, rose 0.4 percent annually in January, following a 0.5 percent climb in the previous month. Initially, the consumer prices were estimated to have remained unchanged. On a monthly basis, the HICP declined 1.8 percent in January, after a 0.2 percent rise in the prior month. In the initial estimate, the HICP fell 1.7 percent. Separate data from the statistical office showed that the seasonally adjusted industrial orders rose 1.4 percent in December, after a 0.2 percent fall in the prior month. Orders from the domestic market rose 6.9 percent and those from the foreign market fell 6.4 percent. On an annual basis, industrial orders…

*Ireland Jan Wholesale Prices -1.0% On Month Vs. +0.2% In December

Ireland Jan Wholesale Prices -1.0% On Month Vs. +0.2% In December The material has been provided by InstaForex Company – www.instaforex.com…