The euro did well

December 16, 2014

The Eurocurrency needs very little for happiness: good statistics - and the main currency pair jumps up.

On Tuesday, data on the information from the private sector by Markit Economics came out. So, in December, the composite output index rose to 51.7 points in the euro area, up from November's 51.1 points. This is the maximum value of the indicator in two months. Manufacturing PMI rose to 50.8 points from 50.1 points. There we saw a maximum of five months.

Investors were also supported by the statistics from Germany. Thus, the economic sentiment index rose to 34.9 points in December versus 23.4 points previously. This is the peak since May of this year.

On this positive note, without any "ifs" the EUR/USD pair strengthened.

Further, most likely, the market volatility will increase. Today starts a two-day meeting of the US Federal Reserve, the final one this year. On the decisions made at this meeting, and the follow-up comments will dependent the dynamics of the euro/dollar by the end of the month.
RoboForex Analytical Department

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