The euro (EUR) is weak and entering Wednesday’s na session with a slight decrease against the US dollar (USD), having recovered from a brief episode of weakness in the early Asian session, says Shaun Osborne, head of Strategy of FX de Scotiabank.
Disparate pmis with better manufacturing and weaker services
“The publication of the preliminary PMI has been mixed, with a better manufacturing fact than expected (although still below 50) and a disappointing and unexpectedly contractive services data (below 50) both for the aggregate of the eurozone and for German figures.”
“These publications were the outstanding points of the week, leaving the markets to focus on the headlines of the central banks from the IMF meetings in Washington. The comments of the president Lagarde focused on the risks downward for growth, but offered little clarity in terms of their thinking about commercial tensions and their impact on inflation.”
“The widest trend remains bullish, however, we cannot avoid the inability of the EUR/USD to break the congestion level of 1.14 in the last 8 sessions. We look Monday at the spot.
Source: Fx Street
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