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Mixed September US PMI data sees service sector beat- USD/JPY lifts back above 144
Earlier this morning the truly disappointing French and German PMI data pushed the EUR/USD lower. By the looks of it, the EUR/USD did indeed remove stops below its 21 day moving average, then in place at 1.1095. The low seen subsequent to those data releases was set at 1.1083. However, since then the Euro has managed to recover and just ahead of the equivalent US PMI data, the EUR/USD lifted to 1.1135. The US data has been mixed as expected, but with a greater than forecast miss on manufacturing. That fell to 47, where a reading of 48.6 was forecast and that has not actually dented the dollar in terms of an immediate reaction, because the USD/JPY has lifted back above the 144 handle. The EUR/USD has also fallen back sligthly, to around 1.1120. The reason for that is because the service sector actually beat forecasts, at 55.4 (55.2 forecast) and it seems that has eclipsed the weaker manufacturing data. The USD/JPY is just now trading at 144.15
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