The forward-looking flash PMI data for the eurozone covering the services and manufacturing sector beat estimates by a small margin.
Data from IHS Markit showed that services activity rose to 52.8, while manfuacturing activity grew to 49.1. There was a notable pick up in the manufacturing activity from Germany.
EUR/USD Rebounds but Will it Hold?
The common currency finally reversed the losses, closing on a bullish note on Friday. The rebound coincides amid signs of the EURUSD forming a bottoming pattern near 1.0800.
With price settling above the initial resistance level of 1.0840, there is scope for a pullback. As long as the current lows are not breached, the bias to the upside could improve.
