Euro flat after mixed data

The euro is broadly unchanged versus the US dollar after mixed economic data announcements from the eurozone.

The euro is trading at $1.3288, flat on the day after a raft of economic reports from the region. Spain announced its services purchasing managers index (PMI) for July, which came in at 48.5 compared with 47.8 in June. Though a reading below 50 indicates contraction, on the positive side July's reading marked a two-year high.

The eurozone as a whole also revealed its services PMI for July, with a reading of 49.8, which was a slight improvement on June’s figure of 49.6. Although the services industry remains in contraction territory, it's at least a step in the right direction.

The eurozone Sentix investor confidence survey of investment analysts came in at -4.9 for July, a reading well below the market consensus of 9.8, offsetting the other relatively positive news from the region.

Economists are expecting a reading of 53.2 from this afternoon's US ISM non-manufacturing PMI. If this figure comes in better-than-expected the euro may dip below the $1.30 mark against the dollar.

Spot FX EUR/USD chart

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.