Looking at EUR/USD’s after release of France, Germany and Eurozone PMIs, one might think that Euro responds negatively to the release. But actually, the PMI data are just mixed, and we couldn’t say they’re bad at all.
But looking at the D heat map, while EUR is broadly soft, it’s actually USD’s strength that is overwhelming.
USD has taken out Friday’s high against all but Sterling. We’ll likely see more upside in USD before US session.
