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French PMIs Show Some Improvement in September

France’s Manufacturing PMI rose from 42.7 to 43.5 points. A rise to 43.9 was expected, a bit below expectations. The services sector rose from 45 to 46.2 points. An advance to 45.6 was predicted – a bit above predictions.

EUR/USD traded in a limited range, between 1.2960 to 1.30 prior to the publication. The results, which are generally within expectations, don’t shake the common currency.

France is Europe’s second largest economy. The figures for Germany are released at 7:30 GMT, and the all-European data is set to be published at 8:00 by Markit.

Euro/dollar dropped from higher levels seen before the failed EU Summit. It gradually lost the 1.31, 1.3060 and 1.30 lines, which now work as resistance. Support is at 1.2960 followed by 1.29.

For more lines, see the eur usd forecast.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.