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Euro Steadies Near Seven-Week Highs as Eurozone Manufacturing PMI Is Revised Lower

BitcoinWorld Euro Steadies Near Seven-Week Highs as Eurozone Manufacturing PMI Is Revised Lower The euro traded close to its strongest level in seven weeks on Monday, even as a downward revision to the Eurozone Manufacturing Purchasing Managers’ Index (PMI) pointed to persistent weakness in the region’s industrial sector.

The shared currency held its ground against the U.S. dollar, with EUR/USD hovering near 1.09, as investors weighed soft economic data against expectations of a more accommodative European Central Bank (ECB) policy stance.

Downward Revision Highlights Sectoral Challenges The final Eurozone Manufacturing PMI for the latest month was revised lower from the preliminary reading, signaling a deeper contraction in factory activity.

According to the data released by S&P Global, the index remained below the 50.0 threshold that separates growth from contraction, underscoring the ongoing challenges faced by manufacturers in the bloc.

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