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Sep 23 - 05:55 AM

EUR/USD - PMI Shock Hits EUR/USD But May Support Risk

By Jeremy Boulton  —  Sep 23 - 03:52 AM
  • Big miss for German PMIs pushes EUR/USD down slightly

  • Sep services 56.0 vs 60.2 f/c, manufacturing 58.5 vs 61.5 f/c

  • Bad news has tendency to support risk taking as it supports stimulus

  • ECB cannot dial back stimulus easily if economy struggles

  • EUR/USD 1.1714-05 EBS on data after 1.1724 EBS high shortly ahead data

  • Range 1.1684-24, EUR/USD struggling to stretch boundaries nL1N2QP0A5

  • Quiet FX markets growing quieter, EUR may suffer as a result nL1N2QP0BZ



EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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