EUR/USD Forecast July 27 - 31 - Euro soars to 22 - mth high

published 26.07.2020 19:09

Under the agreement, the EU will allocate 390 billion euros worth of grants and 360 billion euros worth of loans in order to stabilize the struggling eurozone economy.

The services sector showed strong improvement in June, with the German PMI improving to 56.7 and the eurozone PMI rising to 55.1.

On the manufacturing front, German PMI improved to 50.0 and the eurozone PMI improved to 51.1.

The US Manufacturing PMI has been showing contraction for the past four months, with readings below the 50-level.

Still, the index has been moving upwards and showed strong improvement in June, climbing from 39.8 to 49.6.

by Kenny Fisher from forexcrunch.com

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