Posts Tagged ‘forex market’
USD/INR weakens following upbeat Indian Services PMI data
The USD/INR currency pair faced downward pressure as upbeat Indian Services PMI (Purchasing Managers’ Index) data spurred optimism about the country’s economic recovery. The Indian Rupee strengthened against the US Dollar following the release of robust Services PMI figures, which surpassed market expectations and indicated a notable expansion in the Indian services sector. Investors welcomed…
Read MoreEUR/USD recovers on weaker US Services PMIs
The EUR/USD currency pair staged a recovery as the US Services PMIs (Purchasing Managers’ Index) exhibited unexpected weakness, signaling potential challenges for the American economy. The Euro strengthened against the US Dollar as investors reacted to the data, which indicated a slower-than-anticipated expansion in the US services sector. This development contrasted with earlier market expectations,…
Read MoreForex Today: EU inflation figures, US employment data and PMI report to drive the action
In today’s forex market, traders are closely monitoring a trifecta of influential factors poised to shape market sentiment: EU inflation figures, US employment data, and the Purchasing Managers’ Index (PMI) report. Firstly, eyes are on the European Union’s inflation data, a crucial gauge of economic health. Any surprises in these figures could potentially sway the…
Read MoreEUR/USD clings to mild losses below 1.0770, investors await Eurozone inflation, US PMI data
In the realm of currency markets, the EUR/USD pair is currently holding onto slight losses, trading below the key level of 1.0770, as investors eagerly anticipate the release of crucial economic data from both the Eurozone and the United States. Market participants are closely monitoring the Eurozone inflation data, which is expected to provide insights…
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