XE Market Analysis: Europe – Jul 25, 2019

The Dollar majors have settled in narrow ranges into the ECB’s policy meeting, with markets giving about 50% odds for the central bank producing a 10 bp rage cut today following yesterday’s manufacturing PMI disappointments in the Eurozone. The Euro went into a consolidation after declining sharply yesterday. EUR-USD settled in the lower-to-mid 1.1100s, holding above the two-month low seen yesterday at 1.1127. Sub-forecast U.S. manufacturing PMI data out the U.S. provided some balance.

Source: XE news feed
XE Market Analysis: Europe – Jul 25, 2019