EUR/USD continues to push lower and trades below 1.0850 on in the European session on Wednesday after closing in negative territory on Tuesday.
EUR/USD stays under bearish pressure and trades below 1.0850. Disappointing PMI data from Germany and the Eurozone weigh on the Euro. The near-term technical outlook points to oversold conditions for the pair. The near-term technical outlook points to oversold conditions as investors await PMI data from the US. Euro PRICE This week The table below shows the percentage change of Euro against listed major currencies this week. Euro was the weakest against the Japanese Yen.
Later in the day, S&P Global will release Manufacturing and Services PMI data for the US. Both readings are forecast to hold comfortably above 50. In case any of the headline PMIs arrive below 50, the immediate reaction could weigh on the USD and help EUR/USD stage a rebound. Meanwhile, USstock index futures trade deep in the red following mixed earnings results from Tesla and Alphabet that were released after the closing bell on Tuesday.
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