Hawkish ECB, Strong PMI Curb EUR/USD Downside – BBH
Brown Brothers Harriman reports EUR/USD has partially recovered its recent decline but remains below 1.1400, supported by a hawkish ECB hold and stronger-than-expected Eurozone July PMI, though higher oil prices keep growth risks tilted to the downside.
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According to Brown Brothers Harriman (BBH) analyst Elias Haddad, EUR/USD has clawed back some of its recent losses but remains stuck below the 1.1400 level.
The single currency found support from a stronger-than-expected Eurozone July PMI reading and the European Central Bank's hawkish hold on monetary policy. However, rising oil prices continue to skew growth risks to the downside, capping further euro gains.
Source: FXStreet Forex News