EUR/USD gained traction and turned positive on the day above 1.0650 in the early European session.
EUR/USD trades above 1.0650 after Germany and EU PMI data. The near-term technical outlook points to a bullish tilt. S&P Global PMI data will be featured in the US economic docket. The pair's near-term technical outlook points to a buildup of recovery momentum. The data from Germany showed early Tuesday that the business activity in the private sector expanded at a modest pace in early April, with the HCOB Composite PMI rising to 50.5 from 47.7 in March.
Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .
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