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

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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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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