PMI data from Europe continued to deliver no good news today. The German Flash Manufacturing PMI number was below expectations with an outcome of 50.3 and the French Manufacturing reading was 48.8 which is recessionary.
The EUR however in trading thus far today is a bit stronger. The Single Currency continues to face many tests and is likely to find plenty of traders who wager on its value. Having tested new lows recently the EUR is starting to attract bottom feeders, but the question is what depths are safe?
Gold is slightly stronger as of this writing. The precious metal is near 1234.00 USD. Crude Oil continues to stagger near support and has been volatile for short-term traders seeking to gain from speculative forces.
The USD has been a bit stronger against the JPY and GBP in the past couple of days. The States will publish its Flash Manufacturing PMI reading soon. On Thursday Core Durable Goods will be published from the U.S. and after last month’s rather intriguing results the Durable Goods statistics will be watched closely.