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Euro Drops as Euro-Zone PMIs Miss Expectations
The Euro eased versus the US Dollar purchasing managers’ index for the Euro-Zone fell in July 2017 to a six-month low of 55.6 from June’s 2017 56.4, beneath the 56.2 predicted by analyst including FxPremiere Group Live Forex Signals service team analytsts. That was due principally to a drop in the PMI for the manufacturing sector as the services sector held up well a good weight.
The manufacturing PMI fell to 56.9, a three-month low, from 57.8 while the services PMI was unchanged at 55.9.
“The survey data are historically consistent with GDP rising at a quarterly rate of 0.9%, cooling slightly from a pace of over 0.5% signaled for the second quarter. The slowing pace of economic growth signaled by the surveys and the accompanying easing of price pressures adds to the belief that ECB policymakers will be in no rush to taper policy, and will leave all options open until the central bank sees a clearer picture of the sustainability of the upturn,” he added.
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We hit on several cross-rates – EURGBP, EURJPY, EURAUD, AUDNZD (big breakout), GBPJPY, and a few others as well. Euro Drops as Euro-Zone PMIs Miss Expectations, Trend Intact
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