Published: 2024-04-23T07:47:26.000Z
EUR flows: EUR up on stronger PMIs
Senior FX Strategist
1
Stronger services PMIs boost EUR/USD, but upside looks limited
Both French and German PMIs come in stronger than expected in the services and composite, but weaker than expected in manufacturing. EUR/USD has reacted positively with the services strength dominant. Even so, the rise in EUR yields has been quite modest, and spread moves don’t suggest scope for a break above 1.07.