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French and German PMI data in focus for the EUR/USD soon this morning
At 7.15am GMT France will release its June flash Services, Manufacturing and composite PMI (Purchasing managers index) data and this is expected to show a modest improvement. Similar data from Germany will follow at 7.30am GMT. The German data is also expected to show a modest improvement too. Make no mistake this data can have an impact on the EUR/USD, especially if it is wide of the mark in either direction. Right now the EUR/USD is languishing near 1.0700. The Euro fell to test that level last night and later set a US close at 1.0702. The high seen so far today has been set at 1.0721. Right now the Euro could do with some solid data and it surely will not appreciate the opposite. The same data will be released from the UK at 8.30am GMT and then from the US at 1.45pm GMT. The EUR/USD is just now trading at 1.0713
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