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Nov 04 - 06:55 AM

EUR/USD - Traders Should Note Black Spot Amidst Better PMIs

By Jeremy Boulton  —  Nov 04 - 05:15 AM
  • Slightly better PMIs in France, Germany and Spain

  • Eurozone composite inched higher to 47.3 in October from 47.1

  • Italian PMI bucked broader data to worsen significantly

  • Service PMI 46.4 from 48.8 and composite 45.8 from 47.6

  • Marked widening for Italy/German bond spread in past year

  • Risk aversion or possible move to suppress yields may weigh euro

  • EUR/USD traders must also deal with dreadful German data



Source:
Refinitiv IFR Research/Market Commentary

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