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December 16, 2024

EURUSD Gears Up for Impactful PMI Data and Fed Decision

EURUSD ticks higher to approximately 1.0515 during Monday’s European session. This comes ahead of the Purchasing Managers’ Index (PMI) data set to release for December in both the Eurozone and the US. Analysts predict that the PMI report will reveal the contrasting trends in the Eurozone and US economies. Forecasts indicate a significant decline in business activity in the Eurozone due to a downturn in manufacturing and services. In contrast, the US economy shows signs of ongoing expansion, promising a compelling narrative leading into the key event with the Federal Reserve.

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