1 Jul 2013
Flash: EUR/USD remains heavy – UBS
FXstreet.com (Córdoba) - EUR/USD remains heavy, trading at 1.3000, as the level of economic activity remains stronger in the US, says the UBS analyst team, commenting after the release of US and eurozone PMI's.
"The June ISM manufacturing survey in the US jumped above 50, with new orders pointing to upward momentum", UBS commented. "In the Eurozone, the manufacturing PMIs for Italy and Spain improved significantly. Both countries now post higher values than Germany, confirming our view of a slowing recession in Spain, and of stabilization in Italy and in the Eurozone as a whole in 2Q".
"The June ISM manufacturing survey in the US jumped above 50, with new orders pointing to upward momentum", UBS commented. "In the Eurozone, the manufacturing PMIs for Italy and Spain improved significantly. Both countries now post higher values than Germany, confirming our view of a slowing recession in Spain, and of stabilization in Italy and in the Eurozone as a whole in 2Q".