Forex – Early PMIs Lift Euro After Balanced Fed Minutes

FxPremiere.com — The euro turned higher vs the US dollar in early trading in Europe Thursday, as purchasing manager indices from France and Germany signalled that the euro-zone economy may be bottoming out after its slowdown at the end of 2018.

At 03:30 AM ET, the euro was at $1.1358, just below a two-week high against the dollar, after PMI readings that outstripped expectations – even though Germany’s manufacturing sector appeared to contract in February.

The dollar became a s strong index that measures the greenback vs a basket of major currencies was at 96.299, close to a two-week low.

“The dollar drew some lift as the minutes appeared to have appeased market participants who were clinging to views that the Fed would hike rates one more time this year – but all in all, the minutes were in line with what the Fed said in January,”