Eurozone PMI Stays Below 50, Euro Under Pressure

The eurozone flash PMI for this month printed at 49.5, missing the 50 threshold that separates growth from contraction. While the reading suggests the pace of decline has slowed, the fact it remains below 50 means business activity is still shrinking.

According to the source, the euro was already under downward pressure before the survey data hit. The PMI miss reinforces the bearish tone for the single currency.

Traders are now watching for further eurozone economic data to gauge whether the weakness will persist or if a recovery is truly taking shape.