Stronger-than-expected economic reports for the Euro zone put the EUR/USD currency pair in the 1.1995 area for a while. The Euro rose against the Greenback by 19 base points or 0.16%, though an increase was offset by bearish reaction on the FOMC member’s speech.
Markit preliminary report showed on Friday that the composite PMI registered the strongest gain in six years, as the index rose to the 56.7 in the month of September, up from 55.7 points seen in August. Then, the Euro held steady, while Mr. Draghi avoided commenting any policy-sensitive issues during his speech. From the US side, the FOMC Member John Williams said that he expected the Fed to raise rates gradually depending on the US economic performance.
