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Euro slides lower as Germany PMI slumps heavily

The prospects of a rate hike for next month are being cut now, falling to ~52% from around ~65% before we got to the PMI readings today. The euro is sliding lower especially after the German PMI data here, which shows the steepest decline in business activity since May 2020.The pair was holding around 1.0860 ahead of the data but has now fallen to a low of 1.0810 at time of writing, and puts into focus key support near 1.0800 as outlined earlier here.That will be a big test for the euro in the d... Read More

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Content Topics

Euro

Slides

Lower

Germany

Slumps

Heavily

Forex

Posted: Aug 23 2023, 07:35

Author Name: forexlive

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