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EUR/USD holds modest bid amid US shutdown and mixed PMI readings
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FXStreet Forex & Commodities News
The Euro (EUR) trades with a modest bid against the US Dollar (USD) on Friday, with EUR/USD stuck within this week’s range of 1.1750-1.1700.
The Greenback remains under pressure as the United States (US) government shutdown stretches into its third day, heightening concerns about near-term growth and fiscal stability.
The ISM Services Purchasing Managers Index (PMI) slipped to 50 in September from 52 in August.
Meanwhile, the S&P Global Services PMI eased only slightly to 54.2 from 54.5, and the Composite PMI slipped to 53.9 from 54.6, both staying in expansionary territory but pointing to a mild loss of momentum in the private sector.
On the European side, the Euro found limited support as data showed modest growth and ongoing disinflation.