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Euro flat after mixed data

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

All trading involves risk. Losses can exceed deposits.

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

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