The Euro keeps the offered bias intact vs. the US Dollar.
Stocks in Europe kicked off the session in the red.
EUR/USD deflates to multi-month lows on poor PMIs.
The USD Index (DXY) resumes the uptrend and retargets 105.70.
Advanced PMIs will also be in the limelight in the US calendar.
The ECB’s Luis De Guindos speaks later in the session.
The Euro (EUR) maintains the selling bias unchanged against the US Dollar (USD), motivating EUR/USD to print new six-month lows near 1.0600, the figure earlier in the session.
The Greenback manages to set aside Thursday’s knee-jerk and resumes the uptrend around the 105.60 region when gauged by the USD Index (DXY). The relentless march north in the Dollar has been reinvigorated in response to the hawkish hold by the Federal Reserve (Fed) on Wednesday and appears further propped up by the firm rally in US yields in the belly and the long end of the curve.
Around the European Central Bank (ECB), recent Board members showed some common ground after leaning to a potential pause in the next meeting despite seeing inflation still running well above the bank’s target.
In the domestic docket, flash Manufacturing and Services PMIs in Germany surprised to the upside at 39.8 and 49.8, respectively, in September, although they remain well in the contraction territory. In the broader euro area, the advanced Manufacturing PMI is expected at 43.4 and 48.4 when it comes to the Services sector
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