Eurozone manufacturing PMI was revised downward, yet EUR remains close to recent highs against USD at 1.1525.
The Euro traded at 1.1525 against the US Dollar on Monday, slightly lower but near a seven-week high of 1.1556 reached earlier. The currency’s resilience follows a downward revision in the Eurozone Manufacturing PMI, which tempered earlier optimism.
Prior to the revision, the PMI had signaled modest improvement, though it remained in contraction territory. Analysts had anticipated a stronger reading, but the adjustment underscored persistent weakness in the sector. The Euro’s proximity to recent highs suggests underlying support despite the data.
Markets showed limited reaction to the revision, with EUR/USD maintaining a narrow range. Focus now shifts to upcoming economic releases for further direction.