EUR/USD has been the main beneficiary of the recent dollar decline. However, dismal European PMI data and confluence resistance has forced the pair lower
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.PMI data for Europe continued the trend of weak data, underscoring the challenges faced by the continent as the global growth slowdown unfolds. On Monday a spike in bond market volatility elevated yields and the dollar but on Tuesday that had all been erased.
Implied probabilities from interest rate markets suggest it is almost certain that the ECB will keep rates on hold- a decision made all the more easier after seeing yesterday’s unimpressive PMI figures.
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