EURUSD Slips to $1.15 as Investors Weigh PMI Data
The European single currency, the euro (EURUSD), slipped to $1.15 against the US dollar at the global forex market, its weakest level since early November in 2025.
The single currency depreciated against the firmer US dollar as investors weighed the latest purchasing manager index (PMI) data and dovish signals from a Federal Reserve official
The dollar index strengthened as market price in December rate cut. The dollar is mostly firmer, but for a change, the yen is the strongest currency, with the explicit threat of material intervention spurring some, albeit limited short covering.
The New Zealand dollar is the second strongest among the G10 currencies, up about 0.2%. After rallying above 1.16 earlier in November, the Euro to US Dollar exchange rate (EUR/USD) slipped back towards the mid‑1.15s as investors rethought the outlook for US monetary policy.
Flash data showed Eurozone private-sector activity grew robustly in November, slightly below October’s more than two-year high and broadly in line with expectations, supporting the view that the ECB is likely to keep rates unchanged next year.
Earlier this week, the European Commission upgraded its Eurozone growth forecast for 2025 to 1.3% from 0.9%, citing a surge in exports to the US as firms built inventories ahead of Trump-era tariffs.
Growth is projected to ease to 1.2% in 2026 before picking up to 1.4% in 2027.
Sentiment was also influenced by reports suggesting potential progress toward a Ukraine peace plan, with claims that Washington and Moscow have quietly explored a framework requiring Kyiv to cede the Donbas region and scale down its military.
The Federal Reserve’s latest meeting minutes revealed a committee increasingly wary of cutting rates again, and several officials warned that easing too aggressively could damage inflation‑fighting credibility.
Scotiabank’s latest technical analysis describes EUR/USD as neutral to bearish. A sharp mid‑week pullback dragged the pair back towards its early‑November lows and sent short‑term momentum indicators into negative territory.
Support is seen near the 5 November low in the mid‑1.14s; a break would shift focus towards the early‑August low around 1.14. On the topside, rallies have failed to hold above the 50‑day moving average near 1.1660.
The bank expects the euro to trade in a narrow 1.1480–1.1580 band in the near term unless data releases provide a catalyst. # Euro Slips to $1.15 as Investors Weigh PMI Data GTCO Slides Amidst Multiple Block Transactions
