EMU unemployment rate was just released, still at 11.7% in December, instead of rising to 11.9% as expected. EMU Markit manufacturing PMI rose from 46.1 to 47.8 (consensus of 47.4).
The German figure rose from 46.0 to 49.8 (consensus of 48.8). The Italian manufacturing PMI came up from 46.7 to 47.8 (consensus of 47.4) and the Spanish data rose from 44.6 to 46.1 (consensus of 45.5). The French manufacturing eased from 44.6 to 42.9, as expected.
“Yesterday's corrective pattern ended at 1.3540 low and the uptrend has been renewed, targeting 1.3780 area”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to a positive intraday bias with a key support at 1.3590, and 1.3540 crucial on the downside.
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