The euro paused its recent hectic selling against its major rivals ahead of the key PMI data from the major eurozone economies that will probably affect the currency movements in upcoming trading hours.
At 3.00 am ET, flash Purchasing Managers' survey results are due from France. The manufacturing PMI is forecast to rise to 46.4 in September from 46 in August. The services PMI is expected to rise to 49.5 from 49.2 a month ago.
At 3.30 am ET, Germany's flash PMI data is due. The manufacturing PMI is forecast to rise to 45.2 and services PMI to climb to 48.5 in September.
Eurozone flash PMI data is due at 4.00 am ET. The composite index is forecast to rise to 46.6 in September from 46.3 in August.
The common currency that fell to 1-week lows of 1.2973 against the US dollar and 1.2084 against the Swiss franc earlier in the session leveled off shortly ahead of the key data.
The euro that slipped to 6-day low of 101.36 against the yen around 2:05 am ET held steady thereafter and hovered around the 101.45/50 area.
The single currency that tested yesterday's new multi-days lows at 0.8019 against the pound earlier in the session also moved mostly sideways ahead of the data. As of 2:55 am ET, the euro-pound pair was trading at 0.8022.
by RTT Staff Writer
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