Softer Eurozone PMI price data and ECB President Lagarde’s dovish tone drive EUR/USD toward 1.13 support levels.
EUR/USD is eyeing the 1.13 level as softer Eurozone PMI price data and a dovish shift from European Central Bank President Christine Lagarde pressure the euro. Analysts highlight 1.1390 as near-term support amid weakening inflation expectations.
Recent PMI reports showed easing price pressures, contrasting with earlier inflation concerns. The ECB’s cautious stance follows mixed economic signals, with markets pricing in potential policy adjustments. Comparable periods saw similar reactions when inflation data softened.
The currency pair remains sensitive to ECB commentary and macroeconomic releases, with traders monitoring further dovish cues.