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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 21/Jun 10:17

Euro falls sharply after weak Eurozone PMIs

The EURUSD faces selling pressure in Friday’s European trades due to multiple headwinds. The major currency pair declined to a six-week low near 1.0670 as the Euro weakened after downbeat Eurozone preliminary PMI data suggested the economy is losing momentum. The HCOB PMP report, produced by S&P Global, shows that the Composite PMI unexpectedly declined to 50.8 in June, from the prior release of 52.2, but held above the 50.0 threshold that separates expansion from contraction. Investors expected the Composite PMI to increase to 52.5. The Manufacturing PMI fell further into contraction territory, while the Service PMI continued to suggest expansion, although at a slower

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