The EUR/USD currency pair is making gains, trading near the 1.1550 level after a lackluster day. During the Asian trading session on Friday, the exchange rate hovered around 1.1540, signaling cautious optimism among traders. This upward movement comes as market participants eagerly await the release of the preliminary HCOB Purchasing Managers Index (PMI) data for November, which is anticipated to provide insights into the economic health of Germany and the Eurozone.
The upcoming PMI data will be crucial in shaping market sentiment, as it could influence the European Central Bank's policy outlook and, in turn, affect the EUR/USD exchange rate. Traders are closely monitoring these figures for any signs of economic strength or weakness, which may impact their trading strategies going forward. With the euro's current performance, any positive surprises in the PMI data could drive the currency pair even higher.
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Data Source: FX Killer Analysis Team Updated: 2025-11-21 03:42
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.