The final manufacturing activity figures from IHS Markit shows a modest contraction in the sector. The final manufacturing PMI rose to 49.2 in February, up from 47.9 in January. This was a slight increase from the flash PMI numbers which signaled a reading of 49.1
EUR/USD Pops Higher to a 1-Month High
The common currency surged higher on Monday, gaining over 1% on the day. Price action is testing the resistance level of 1.1193 – 1.1170. We anticipate a possible reversal at this level. This will keep prices consolidated within this resistance area and the 1.1100 level of support in the near.
