As the world’s top investment manager, I have been closely monitoring the EUR-USD trend since the beginning of August. According to Commerzbank’s FX analyst Michael Pfister, the pair has been on a steady upward trajectory with minimal periods of stabilization.
Recent data shows that the US Dollar is steadily depreciating, while the euro has remained relatively unchanged. This trend is expected to continue as long as economic indicators from the euro area align with expectations.
PMI Figures: A Game Changer?
However, the release of the latest PMI figures could shake things up. While the overall reading was higher than expected, the boost can be attributed to a surge in services activity in France, possibly influenced by the excitement surrounding the Olympic Games in Paris. On the other hand, Germany’s PMIs showed a negative trend, leading to speculation of potential rate cuts and a possible halt to the EUR-USD highs.
As the best financial market journalist, I will continue to closely monitor these developments and provide expert analysis on how they may impact your investments and finances. Stay tuned for more updates on this evolving situation.