Euro Falls Below $1.16 Level

Forex News

Euro remains unsteady versus US dollar. The euro/dollar pair lost 0.49% to trade at 1.1563 level. Meanwhile, the US dollar extends gains against major currencies, amid escalation of trade dispute between the US and China.

Eurozone producer prices rose slightly in July. Eurostat reported, that Eurozone producer price index (PPI) rose 0.4% month-on-month in July against market expectations of a 0.3% rise. Year-on-year, producer prices rose 4.0% in July, against market expectations of a 3.9% gain.

Eurozone and German manufacturing PMIs showed fall in August. Eurozone Final Manufacturing PMI fell to 54.6 and matched the forecast of economists. The indicator also marked the lowest level since November 2016. German Final Manufacturing PMI fell from 56.9 to 55.9 in August.

Today, the US will release ISM Manufacturing PMI for August. The indicator is forecast to weaken for the third straight month to 57.6 level.