On Monday morning, Markit released its Purchasing Manager Indices for the Eurozone. As this morning the Euro surged against other currencies, it was assumed that the better than expected survey results caused a surge. However, an in-depth look revealed that it was not the case.
The Euro traded sideways against the US Dollar, following the French Flash PMIs survey results release on Monday at 08:15 GMT. The EUR/USD exchange currency rate lost 2 pips or 0.02% after the release. The Euro continued trading at the 1.1870 level against the Greenback after the release.
Afterwards, the Euro traded sideways against the US Dollar, following the German Flash PMIs survey results release on Monday at 08:30 GMT. The EUR/USD rate gained 6 pips or 0.05% after the release.
Additionally, the Euro traded sideways against the US Dollar, following the German Flash PMIs survey results release on Monday at 09:00 GMT. The EUR/USD gained 1 pips or 0.01% after the release.
Note that the Euro started to appreciate against the US Dollar after the given releases at 9:10 GMT. The pair has already gained 33 pips or 0.28%. It is likely that the advance was driven by an announcement that the EU-UK trade talks were going on remotely.
| Date | 24.07.20 | 21.08.20 | 23.09.20 | 23.10.20 | 23.11.20 |
|---|---|---|---|---|---|
| Actual | 50.0 | 53.0 | 56.6 | 58.0 | 57.9 |
| Forecast | 48.0 | 52.2 | 52.0 | 55.0 | 56.0 |
| Pair | Open | Close | Change |
|---|---|---|---|
| EUR/CHF | 1.08053 | 1.08128 | 0.07% |
| EUR/GBP | 0.88998 | 0.88766 | -0.26% |
| EUR/JPY | 123.20400 | 123.243 | 0.03% |
| EUR/USD | 1.18695 | 1.18714 | 0.02% |
| Pair | Longs | Shorts |
|---|---|---|
| EUR/CHF | 30.4% | 69.6% |
| EUR/GBP | 66.8% | 33.2% |
| EUR/JPY | 71.5% | 28.5% |
| EUR/USD | 41.2% | 58.9% |
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