EUR/USD traders waiting for German and Eurozone PMI numbers!
Today, the PMI reports for Germany and the Eurozone will be released. These reports show how well companies are doing and can affect the EUR/USD pair.
Experts think Germany’s PMI might fall a little. The composite PMI could go down to 51.6 from 52.0, services may drop to 51.0, and manufacturing could fall to 49.5.
For the Eurozone, the composite PMI is expected at 51.0, slightly less than 51.2 last time. The services PMI may be 51.1, and manufacturing might stay near 49.5. A score above 50 means growth, while below 50 means a slowdown.
These numbers are important because they show if the European economy is doing well or not. If the data is better than expected, the euro could go up. But if it’s weaker, the US dollar may get stronger.
Right now, the EUR/USD is not moving much. If it goes above 1.1920, it may rise more. But if it falls below 1.1400, it could drop further.
Impact:
If the PMI numbers are strong, the EUR/USD may go up. But weak data could make the dollar stronger and push the pair down.
