Good News For Italy

Razvan Mihai

Analyst

Italy reported a final Manufacturing PMI in line with the expectations and very close to the previous one, 52.3. But traders had bigger surprise coming from the labor market. The monthly Unemployment Rate dropped from 12.7% to 12.0% and the quarterly one was in line with the previous one, but 0.1% lower than expectations. This triggered fast buying of the single currency, throwing EURUSD in a possible uptrend.

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