Euro under pressure due to weak PMI
According to the latest data, Germany's manufacturing PMI dropped to 41 instead of the forecasted 43.4. The services PMI slowed to 54.1. PMI data for the Eurozone overall failed to meet forecasts, with manufacturing PMI dropping to 43.6 against a forecast of 44.7 and services PMI falling to 52.4 versus a predicted 54.9. With this slowdown in the Eurozone's economic growth rate and a recession in Germany, pressure on the euro remains.
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