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EURUSD: Single Currency Squeezed Lower on Soft PMIs from France and Germany

EURUSD
  • Poor PMI turnouts weighing heavily on the single currency - and in particular that German release - close to 4,000 contracts trade across EUR futures on the headline, tipping cumulative activity well ahead of average for this time of day.
  • Further weakness in spot exposes the Jun 14 low at 1.0668, ahead of the key support at the Apr 16 low of 1.0601. Eurozone PMI up next in just under 30 minutes.

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