Euro is technically poised to break below the 1.0960 support and retest the year low EUR EURUSD $EUR $EURUSD
March Markit flash PMIs for the EU, and the US surprised with upbeat readings.The EUR/USD pair
saw limited action on Thursday, bouncing once again from the 1.0960 price zone but unable to extend gains beyond the 1.1000 figure. The dollar is generally weaker, despite financial markets having little to cheer. Mid-US afternoon, headlines hinted at progress in ceasefire talks between Kyiv and Moscow, but ahead of those, news from the war front were mostly discouraging. US President Joe Biden and European NATO counterparts are preparing for the risk of Moscow launching a nuclear attack. They have also discussed assisting Ukraine with anti-ship missiles and clarified that any gold transaction involving Russia's central bank is subject to existing sanctions.
Data wise, the EU Markit flash PMIs provided support to the shared currency. German figures were upbeat in March, with the manufacturing sector expanding by 57.6 and the services one by 55, both above the market’s expectations. The EU readings were also better than anticipated, with the Manufacturing PMI printing at 57 and the ServicesOn the other hand, the US released Initial Jobless Claims for the week ended March 18, which declined to 187K beating the expected 212K.
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