Euro Trades Lower on Mixed Eurozone Data and Strong Dollar

The  euro today traded lower against the  US dollar despite the  release of  mixed economic releases from across the eurozone, which should have boosted the  single currency. The  EUR/USD currency pair was further weighed down by  yesterday’s optimistic FOMC minutes, which boosted the  greenback.
The  EUR/USD currency pair today traded in  a  range between a  high of  1.1588 and  a  low of  1.1543 and  was on  a  downtrend at  the  time of  writing.
The  currency pair rallied slightly after the  release of  the  Markit Flash France Services PMI, which came in  at  55.7 versus the  expected 55.1. The  pair had a  muted reaction to  the  release of  the  Markit Flash Germany Manufacturing PMI, which came in  at  56.1 as  compared to  the  consensus estimate of  56.5. The  Markit Germany Services PMI had a  muted impact on  the  single currency despite beating expectations. The  pair headed lower following the  release of  the  disappointing Markit Flash eurozone Manufacturing PMI, which was recorded at  54.6 versus the  expected 55.2. The  pair headed lower following the  release of  the  European Central Bank‘s latest account of  the  monetary policy meeting.
Positive releases from the  US docket such as  the  initial jobless claims data released by  the  Department of  Labor also drove the  currency pair lower. The  fresh tariffs imposed on  China also served to  boost the  greenback as  tracked by  the  US Dollar Index.
The  currency pair’s future performance is likely to  be affected by  tomorrow’s German GDP data and  US durable goods orders.
The  EUR/USD currency pair was trading at  1.1563 as  at  14:19 GMT having dropped from a  high of  1.1588. The  EUR/JPY currency pair was trading at  128.54 having rallied from a  low of  127.91.

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