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EUR/USD steady as PMI surveys highlight slowing growth, markets await Powell speech
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FXStreet Forex & Commodities News
EUR/USD steady on Tuesday after PMI releases showed slowing momentum on both sides of the Atlantic.
US S&P Global Composite PMI eased to 53.6 in September, below forecasts but still above 50.
Traders showed limited reaction to the PMI data and are instead awaiting remarks from Federal Reserve (Fed) Chair Jerome Powell, scheduled for 16:35 GMT, for fresh monetary policy cues.
In the United States, the S&P Global Composite PMI eased to 53.6 in September’s preliminary reading, below the forecast and prior reading of 54.6, though it remained firmly above the 50 threshold.
Across the Atlantic, the Eurozone Composite PMI rose to 51.2 in September’s preliminary reading, slightly above expectations of 51.1 and higher than 51 in August.
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