EURUSD is trading sideways at the start of the week, slightly above the psychological support of 1.0500. The major currency pair consolidates as the...
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Maroc - FINANCIALMIRROR.COM - A La Une - 24/Sep 10:59
Eurozone PMI stokes ECB rate cut bets
The Euro-Dollar currency pair struggles to hold the key support of 1.1100 in Tuesday’s European session after a sharp decline on Monday. EURUSD remains under pressure as Monday’s flash HCOB Purchasing Managers Index (PMI) data for September stoked market expectations for the European Central Bank to opt for a second straight interest rate cut in the October meeting. The PMI report showed that the business activity unexpectedly sank into contraction, which was estimated to fall slightly, but remained above the 50.0 threshold that separates expansion from contraction. A decline in the HCOB Composite PMI dominantly came from the manufacturing sector,
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