Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
The euro faced a setback in its recent rally against the US dollar, failing to maintain its grip above the psychological level of 1.1000. Instead, it closed the week at 1.0844 after a significant sell-off on Friday, triggered by lackluster Purchasing Managers’ Index (PMI) data from Europe.
Although the euro had been experiencing a strong bullish trend since the beginning of the month, upward momentum is now showing signs of fatigue, coinciding with a resurgence in the US dollar’s strength.
Friday’s release of disappointing EU statistics added to the shift in sentiment. Factory activity worsened in June, with the PMI dropping to 43.6 from May’s 44.8, marking the lowest level in 37 months and deepening concerns about a manufacturing recession.
Softening Services Sector Raises Alarms
Meanwhile, the HCOB Flash Eurozone PMI indicated a significant softening in the services sector, declining from 55.1 to 52.4, well below the median estimate of 54.5. A reading above 50 suggests expansion, while a value below that threshold indicates contraction.
While it’s important not to draw broad conclusions from a single report, the deteriorating growth environment poses a potential challenge for the euro. If demand conditions in the region fail to stabilize and improve soon, the European Central Bank (ECB) may find it difficult to justify further interest rate hikes, as a more restrictive approach could deepen the economic downturn.
Key Economic Reports to Watch for Euro Traders
To gain insight into the future of monetary policy, close attention should be paid to upcoming economic reports. Notably, the German Ifo business climate survey on Monday, German GfK consumer confidence on Tuesday, and Eurozone Consumer Price Index (CPI) results on Friday are key releases that warrant scrutiny.
Amid concerns over the euro’s performance and the ECB’s decision-making, monitoring incoming economic data is crucial. Investors and analysts will eagerly await these reports, as they hold the potential to shape the outlook for monetary policy decisions.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus