ForexLive European FX news wrap: Euro falls after soft PMI data | Forexlive



AUD leads, EUR lags on the dayEuropean equities higher; S&P 500 futures up 0.2%US 10-year yields down 2.6 bps to 3.903%Gold up 0.3% to $2,042.61WTI crude up 0.9% to $72.20Bitcoin down 0.7% to $42,701

After a bustling last couple of days, things are calming down for the most part as we get towards the final stretch of the week. The dollar remains mostly softer across the board but the losses so far today are only slightly. Instead, it is the euro that is proving to be the laggard.

That comes after softer French and German PMI data, which puts some pressure on the ECB to perhaps cut rates faster. And that is a bit of a challenge to the rhetoric they were trying to sell yesterday, including the remarks by some policymakers today.

EUR/USD dipped from 1.0990 to 1.0950 and is holding at the lows for the day currently, while EUR/GBP fell from 0.8605 to 0.8580 in the aftermath. UK PMI data was solid but the pound is not really too enthused despite that.

In other markets, gold is sitting slightly higher amid a softer dollar just above $2,040 while equities are also keeping some light optimism. Stocks have experienced a great week, helped by a more dovish Fed and look to close things out on a more positive note. As for bonds, the rally is continuing with 10-year Treasury yields now down towards 3.90% as traders remain convinced that we have reached a crucial pivot on rates.

This article was originally published by a . Read the Original article here. .