The Euro (EUR) has staged a recovery against the US Dollar (USD) on Monday, bouncing back from earlier losses sparked by disappointing US economic data. The ISM Manufacturing Purchasing Managers Index (PMI) fell short of expectations, putting downward pressure on the Greenback. As a result, the EUR/USD currency pair trades around 1.1706, having rebounded from a low of approximately 1.1659.
This movement in the exchange rate highlights the ongoing volatility in the forex market, influenced by economic indicators. The weaker PMI data has prompted traders to reevaluate their positions, leading to renewed interest in the Euro. As the trading session progresses, market participants will be closely watching further developments that may impact the USD's strength and the overall direction of the EUR/USD pair.
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Data Source: FX Killer Analysis Team Updated: 2026-01-05 16:27
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.