EUR/USD sideways around 1.0820 with markets awaiting US PMI March reading
The post EUR/USD sideways around 1.0820 with markets awaiting US PMI March reading appeared on BitcoinEthereumNews.com.
EUR/USD stuck at 1.0820 on Monday after briefly breaking below 1.08 last week. Preliminary PMI data for March from Germany, France and the overall Eurozone comes in mixed. Markets are having a sigh of relief with possible softening for reciprocal tariffs according to US officials. The EUR/USD going nowhere and trades around 1.0820 at the time of writing on Monday, amidst headlines from US officials that the upcoming reciprocal tariffs will be targeted for certain products and sectors. Overall, the pair is expected to stay above 1.08 for now after United States (US) officials commented on Monday that the upcoming reciprocal tariffs will rather be targeted by sector and country, not at all simply broad-based as US President Donald Trump had originally announced. Meanwhile, on the economic data front, the preliminary Purchasing Managers Index (PMI) for March is being released on Monday. In the old continent, S&P Global and Hamburg Commercial Bank (HCOB) PMIs have been upbeat in France, beating estimates and February’s readings in both the manufacturing and services sectors, but they still signal contraction. Meanwhile, results for Germany and the overall Eurozone have been mixed. The focus now shifts to the US S&P Global PMI data at 13:45 GMT. Daily digest market movers: Another week full of headlines European PMI data has already been released: For France, upbeat numbers with the Services component coming in at 46.6, beating the 46.3 expected and the previous reading of 45.3. The Manufacturing sector component jumped to 48.9, coming from 45.8 in February and beating the 46.2 expected. In Germany, the Services sector reading fell to 50.2, missing the 51.4 estimate and below the previous 51.1. The Manufacturing component popped to 48.3, beating the previous 46.5 and above the consensus of 47.7. In the overall Eurozone, Services PMI decreased to 50.4 from 50.6 previously,…
Filed under: News - @ March 24, 2025 1:27 pm