Euro Trading Close to Two-Month Low Ahead of ECB Meeting - Forex News by FX Leaders

Euro Trading Close to Two-Month Low Ahead of ECB Meeting

Posted Thursday, July 25, 2019 by
Arslan Butt • 1 min read

Early on Thursday, EUR/USD is trading close to a two-month low in anticipation of ECB’s meeting due to take place later today. At the time of writing, EUR/USD is trading at around 1.113.

Disappointing manufacturing PMI reports from the Eurozone, especially from Germany – one of Eurozone’s leading economies, dented the sentiment further and signaled a weakening in the region’s economic growth. Germany’s manufacturing sector contracted at the fastest pace in seven years during June, while France’s manufacturing sector reached stagnation.

Investors have now turned their focus to the European Central Bank’s meeting to see if it will cut rates, especially in the wake of such weak economic data. The Euro has lost 2% of its value against the US dollar so far over concerns of ECB easing the monetary policy to support its economy.

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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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