EUR/USD extends the range bound theme in the low-1.1300s By pabspiovano EURUSD Currencies Majors PMI
Germany Flash Manufacturing PMI surprises to the upside in January.trades on the defensive and leaves behind Friday’s decent gains on the back of the renewed buying interest around the US dollar.EUR/USD maintains the consolidation well and sound at the beginning of the week, always underpinned by the 1.1300 neighbourhood amidst the better note in the greenback and despite another downtick in yields.
In the domestic tap, Germany Flash Manufacturing PMI is expected to have improved to 60.5 for the current month, while the Services PMI is also seen bettering to 52.2. In the broader Euroland, theLater in the NA docket, Markit will also publish its manufacturing and services gauges along with the ChicagoEUR/USD seems to have met a tough barrier in the area below 1.1500 in mid-January, sparking a corrective downside soon afterwards in tandem with the strong recovery in the greenback.
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