The euro is showing limited gains on Monday. In the North American session, EUR/USD is trading at 1.1529, up 0.07% on the day.
Eurozone PMIs show little change
Eurozone PMIs showed little change in June. The Services PMI rose to 50.0 from 49.7 in May, matching the market estimate. This indicated a slight stabilization in business activity.
/*
Requesting advertisement by calling an endpoint assures that
the advertisement is never cached together with the page.
xKOPU – is a forced measure to prevent JS function from
being overwritten.
*/
function load_advertisement_xKOPU(){
let adSlot = document.getElementById(‘ad-slot-container-xKOPU’);
fetch(‘/load-advertisement/26/?is_sidebar=False’)
.then(response => response.text())
.then(html => {
adSlot.outerHTML = html;
})
.catch(error => {
console.error(‘Error fetching the template:’, error);
});
}
load_advertisement_xKOPU();
The Manufacturing PMI remained unchanged in June at 49.7, pointing to slight contraction and missing the market estimate of 49.8. In Germany, the largest economy in the eurozone, manufacturing and services remained in contraction. The Manufacturing PMI ticked higher to 49.0 from 48.9, while the Services PMI rose to 49.4 from 47.8.
The PMI reports point to a weak eurozone economy. The European Central Bank trimmed its deposit rate to 2.0% earlier this month in an attempt to kickstart the economy. The drop in May eurozone inflation cemented the ECB rate cut – CPI dropped to 1.9% in May from 2.2% in April, its lowest level since September 2024. Core CPI declined to 2.3% from 2.7%.
US Services PMI slips
The US Services PMI fell to 53.1 in June, down from an upwardly revised 53.7 and just above the market estimate of 52.9. The Manufacturing PMI remained unchanged at 52.0, above the market estimate of 51.1.
The Federal Reserve remains in wait-and-see mode, with the uncertainty over the tariffs and the Israel-Iran war raising concerns about global oil supplies. The Fed has maintained rates at four straight meetings, despite pressure from President Trump to lower rates. The markets expect the Fed to remain on the sidelines at the June 30 meeting, with one or two rates expected in the second half of the year.
EUR/USD Technical
- There is support at 1.1518 and 1.1492
- The next resistance lines are 1.1548 and 1.1574
const imageElement = document.getElementById(‘pinch-to-zoom-img-5397’);
if (imageElement) {
panzoom(imageElement, {
maxZoom: 4.0,
minZoom: 0.5,
contain: ‘outside’,
});
}
}, 100);
}
}
}”
x-init=”$watch(‘imgModal’, value => initPanzoom())”
class=”flex “>
USDJPY 1-Day Chart, June 23, 2025
/*
Requesting advertisement by calling an endpoint assures that
the advertisement is never cached together with the page.
HYYOf – is a forced measure to prevent JS function from
being overwritten.
*/
function load_advertisement_HYYOf(){
let adSlot = document.getElementById(‘ad-slot-container-HYYOf’);
fetch(‘/load-advertisement/30/?is_sidebar=False’)
.then(response => response.text())
.then(html => {
adSlot.outerHTML = html;
})
.catch(error => {
console.error(‘Error fetching the template:’, error);
});
}
load_advertisement_HYYOf();
Opinions are the authors’; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.
If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.
Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.
© {CURRENT_YEAR} OANDA Business Information & Services Inc.
