EURUSD
The Euro extended losses to below $1.069 after weaker-than-expected PMIs for June raised concerns about a setback in economic performance of the Euro Area, raising bets the ECB could deliver further interest rate cuts. Flash PMIs showed manufacturing unexpectedly contracted at a sharper rate in the Eurozone, Germany and France. The services sector also posted a surprise slowdown in the Euro Area and Germany and a bigger decline in France. The common currency lost nearly 0.2% on the week, holding at seven-week lows, pressured by political turmoil in France and a general dollar strength as the Federal Reserve is lagging behind other major central banks in easing policy.
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.