As follows from published shortly after 10:00am IHS Markit report regarding the final results of February industrial PMI for Eurozone values were at 70-year peaks thanks to the good economic situation in Germany, the Netherlands and Italy.
The final reading of 55.40 was slightly worse than the preliminary results (55.50), but defeated the final results of the January (55,20). Industrial production, number of new employees and employment in industry increased in each euro area country except Greece.
On following charts, we see industrial PMI in euro zone, and on the right side of the comparison in relation to industrial production:
Chief economist Chris Williamson commented on the results: “Manufacturers in the euro area report some of the strongest results in almost six years, which is a great forecast at the beginning of 2017 years. Enterprises calmly look into the future, despite the political turmoil on the Old Continent “
Quotations of euro are not set so optimistic and the pair lost since morning. Also good data on PMI didn’t provoke strongest reaction on EUR / USD H1 however, we have seen a bit stronger opposition from bulls. The last H1 candle forms of a pin bar just above important support of 1.0520 and lows of February 23:
Euro also lost heavily against PLN. Here again was defeated 4.30 handle , and in the last two hours price slides about 140 pips. Stronger increases are effectively blocked by horizontal resistance determined by Fibonacci levels. From the bottom declines are stoped by trendline conducted after February minimas.