EURUSD was sharply down on Monday morning after weaker than expected German and French PMI’s (German manufacturing PMI at 40.3 warns of recession) soured sentiment. Fresh weakness adds to reversal signals from recent repeated strong upside rejections on approach to pivotal 1.1200 barrier (Aug 26 high / round-figure). Bears cracked lower pivots at 1.1100 zone […]
The post EUR/USD Outlook: Weak Data Deflate Euro But Larger Bulls Remain in Play appeared first on Action Forex.
Markets Its going from bad to worse with the EMU economy. According to the Flash PMI, activity contracted in September for the first time since February. The headline composite index slipped from 51 to 48.9 Read more…
Preliminary Eurozone PMI estimates sent the EURUSD down 0.67% over the hour, as they were much weaker than expected and increased pressure on the ECB to continue easing monetary policy. This is not the first Read more…
US PMI Manufacturing fell from 47.9 to 47.0, marking a 15-month low. PMI Services slipped slightly from 55.7 to 55.4, while Composite PMI edged down from 54.6 to 54.4, indicating continued economic growth but at Read more…