Similarly, Chinese non-manufacturing activity grew at a faster pace in February, while last month’s Caixin/S&P Global Manufacturing PMI reading also beat market expectations.
He “onshore” yuan advanced in the local session to 6.8854 units per dollarthe strongest close since February 21, while offshore improved 1%to 6.8811, its biggest daily rise since late November.
“The data confirms expectations that growth prospects have improved significantly in China, so it is positive for risk sentiment,” he said. Niels Christensen, Nordea’s chief analyst. “This has put the dollar on the defensive.”
Meanwhile, data from the most populous state in Germany, North Rhine-Westphalia, showed that the prices to the consumption rose 8.5% annually last month, compared to 8.3% in January. More regional data on consumer prices will be released throughout the European morning, before the pan-European data is released.
He euro It is up 0.7% at $1.0650 and the British pound is up 0.5% at $1.2081. The dollar index lost 0.7%, to 104,095 units, and the greenback fell 0.17% against its Japanese pair, to 136 yen.
Source: Ambito
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