The latest set of IHS Markit PMIs picked-up from recent lows but Eurozone GDP is still likely to hit just 0.1% to 0.2% in Q3 while Germany looks to be heading into a technical recession.
EURUSD remains under selling pressure after another set of weak Euro-Zone PMIs. The ECB meeting on Thursday now takes on increased importance will they stimulate the economy tomorrow or not?
EURUSD is currently constrained by a series of lower highs and higher lows ahead of two important central meetings in the next two weeks. A break out is looking increasingly likely.
The single currency remains under downside pressure as 5-yr/5-yr Euro-Zone inflation expectations hit another record low, leaving the ECB in a precarious situation.
German economic growth flatlined in the fourth quarter of 2018 and narrowly missed plunging the country into a recession, heaping additional downside pressure on the