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Thomson Reuters
Oct 24 - 05:00 AM
EUR/USD - May Drop As Today's Data Says ECB Should Ease
First appeared on eFXplus on Oct 24 - 02:45 AM
  • German PMI @ 7.30GMT f/c 53.4 from 53.7 which was weakest since Dec 2016
  • Euro zone M3 @ 8.00GMT seen unch @ 3.5% which was lowest since Nov 14
  • M3 once a benchmark for ECB when the ref rate was 4.5% (ECB tomorrow)
  • EZ composite PMI is f/c 53.9. If seen would be weakest since end-2016
  • If all f/cs met certainly tougher for ECB to talk a hawkish book
  • Weak recoveries suggest EUR/USD to break 1.1430 and target 1.1360-80

EZ PMI Click here

EZ M3 Click here

Source:
Thomson Reuters IFR Markets

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