The Euro Advances Versus The USD

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The USD slipped today amid forecasts for further Federal Reserve rate reduction waned, while the euro surged after Eurozone private sector data has now higher estimates.

Moreover, the French and German PMI data for August came earlier than expected.

Now, the Euro versus the USD trades at $ 1.1101, which is an incline of $0.00176 or 0.16% from the previous close of $ 1.10841.

The daily range is from $1.1075 to $1.1113, while the trading volume is 61.263K.

Data demonstrates that the German manufacturing sector is still weak levels and activity in the service sector slowed.

Most market participants are not focused on Fed Chairman Jerome Powell’s speech at Jackson Hole due tomorrow.

There are expectations to see whether there will be some market signals and whether the Fed is considering to decrease its rates.