The narrowing of the Germany Manufacturing PMI to U.S. ISM Services PMI spread suggests that Germany’s growth prospects have improved relative to those of the US.
by Kelvin Wong
Market Pulse
Since our last analysis, the price actions of the EUR/USD have rallied towards 1.0940 on 17 March before it staged the expected minor corrective pull-back to retest the key 200-day moving average acting as a support at 1.0730 (printed an intraday low of 1.0733 on 27 March) as highlighted.
Thereafter, the EUR/USD resumed its bullish impulsive up move sequence with a rally of 6.9% to hit a 52-week high of 1.1474 on last Friday, 11 April, on the backdrop of the uncertainty surrounding the implementation of US reciprocal and sectoral-based trade tariffs.