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Euro struggles to regain 1.1200 versus dollar after mixed services data

EUR/USD is attempting to move back above 1.1200 after a dip to about 1.1160 earlier, and eurozone Sentix confidence fell to 2.7 in October.

Reported · Written up by our desk · Major Pairs

The euro stayed under pressure against the US dollar on Monday, as EUR/USD tried to recover the 1.1200 area after bouncing from fresh 17-month lows near 1.1160, FXStreet reported. The pair has also fallen about 3% over the previous four weeks.

FXStreet pointed to mixed eurozone services signals, including final HCOB Services PMI data showing sector activity rising at a 53 pace in September, up from 51.7 in August. It also cited confirmed German PMI at 52.9, from 49.7, while Italian and French PMIs slowed more than expected.

The report said Sentix investor confidence deteriorated to 2.7 in October, down from 5.1 in the prior month, adding to the backdrop. It also noted that France's borrowing costs rose amid rising social unrest, further weighing on the euro.

Latest closeEUR/USD 1.126 ▼0.6%

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