EUR/USD bounces off key technical level on PMI data, sluggish dollar ...Middle East

The euro area PMI data was a bit mixed but at the balance, it was salvaged by the better German PMI figures. That continues to give the ECB a bit of breathing room after their impending June rate cut at least. That is helping the euro a tiny bit with the dollar also looking sluggish amid a better risk mood today.Equities are keeping higher as the mood music is buoyed by Nvidia's earnings beat after the close yesterday. That is helping to see the aussie and kiwi hold higher against the dollar as well.Going back to EUR/USD, the pair fell to test its 100-day moving average (red line) after the French PMI data earlier. But since then, it has caught a bounce to trade back up to 1.0845 currently.S

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Last updated : 23 May 2024 clock 01:41 PM

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