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The data released in the first half of the day on production indices had a negative impact on the quotations of the European currency, but this did not lead to a large sell-off against the US dollar.
According to the report, the February index of supply managers for the German manufacturing sector rose to 60.6 points, while it was expected at 60.3 points.
The index of supply managers PMI for Italy's manufacturing sector in February fell to 56.8 points against 59 points in January, although economists had expected its decline to 58.0 points.
The index of supply managers PMI for the production sector in France in February was 55.9 points, while it was forecasted at 56.1 points. In January, this index was at the level of 58.4 points.
All this has largely affected the overall index for the production area of the euro area.
According to the statistics agency, the index of supply managers PMI for the manufacturing sector fell in February this year to 58.6 points, from 59.6 points in January, although experts predicted its fall to 58.5 points.
All these data indicate that producers will have to lower prices, which will put pressure on inflation in the euro area, which remains at a fairly low level at the beginning of this year, which does not suit the European Central Bank.
In the second half of the day came data on the labor market in the United States.
According to the report of the US Department of Labor, the number of initial applications for unemployment benefits for the week from 18 to 24 February fell by 10,000 and amounted to 210,000. Economists had expected the number of applications to be 225,000.
The income of Americans has grown, which will positively affect the economic growth and inflation in the future. With this data, the US Department of Commerce was speaking today. So, personal incomes of Americans in January this year grew by 0.4% compared to December, while economists expected growth of only 0.3%.
But personal expenses grew less significantly, only 0.2% in January compared to December.
The British pound attempted to grow after data on the number of approved mortgage loans in the UK, which again proved unsuccessful.
According to the report of the Bank of England, the number of approved mortgage loans in January this year was 67,478 versus 61,692 in December. Unsecured loans decreased. Thus, the number of consumer loans in January amounted to 1.4 billion British pounds against 1.6 billion pounds in December, which fully coincided with the forecasts of economists.
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