The EUR/USD pair retreated from a fresh weekly high of 1.0942 but holds above the 1.0900 mark on Thursday, as the US Dollar took a hit from the Federal Reserve (Fed) monetary policy announcement.
EUR/USD Current price: 1.0908 The European HCOB March PMIs showed the region is still struggling to expand. United States data beat expectations, aligning with the country’s resilient growth. EUR/USD eased from fresh highs, but the bearish potential remains limited. The EUR/USD pair retreated from a fresh weekly high of 1.0942 but holds above the 1.0900 mark on Thursday, as the US Dollar took a hit from the Federal Reserve monetary policy announcement.
Meanwhile, the HCOB Eurozone indexes posted a similar picture, with an improvement in the services sector offsetting a decline in the manufacturing sector. The EU Composite PMI printed at 49.9, higher than the previous 49.2 and just below the 50 line indicating economic expansion. Across the pond, the US reported that Initial Jobless Claims for the week ended March 15 declined to 210K, beating expectations. Also, the Philadelphia Fed Manufacturing Survey printed at 3.
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