Euro Climbs Against Majors; PMI Reports Due

The euro advanced against its key counterparts in early European deals on Monday.

The euro recovered to 1.1194 versus the dollar and 0.7272 against the pound, from early multi-week low of 1.1159 and a more than 7-year low of 0.7238, respectively.

The euro climbed to 4-day highs of 1.0694 against the franc and 134.23 against yen, off early lows of 1.0649 and 133.67, respectively.

The euro is likely to find resistance around 1.14 against the greenback, 0.75 against the pound, 1.2 against the franc and 135.00 against the yen.

Markit Economics is scheduled to issue Italy’s manufacturing PMI data for February at 3.45 am ET. Final PMI reports are due from France and Germany at 3:50 am ET and 3:55 am ET, respectively. The euro area PMI, due at 4.00 am ET, is expected to match the flash reading of 51.1 in February.

The material has been provided by InstaForex Company – www.instaforex.com

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