News Alert: Euro Crashes Over 70 Pips, What’s Going On? - Forex News by FX Leaders

News Alert: Euro Crashes Over 70 Pips, What’s Going On?

Posted Friday, March 22, 2019 by
Arslan Butt • 1 min read

EUR/USD is falling hard as hell. So far, the direct currency pair has dropped more than 75 pips from 1.1390 to 1.1314, and the bearish momentum is continuing.

What’s Going On?

French Flash Manufacturing PMI: French business activity falls back into contraction territory. At 48.7 in March, the IHS Markit Flash France Composite Output Index plunged from 50.4 in February, flagging a renewed slump in private sector business activity.

German Flash Manufacturing PMI: German output growth is at a near six-year low as manufacturing downturn deepens. March marked the slowest rate of business activity in Germany in almost six years. The PMI figure fell drastically from 47.6 in February to 44.7 in March.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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