Euro's Rally Halted by Disheartening PMIs; Aussie Up on RBA's Hawkish Tone ahead of CPI
Euro's forward drive this week faced a halt as subpar PMI readings painted a concerning picture for the Eurozone economy. The data fuels concerns that the Eurozone economy might be heading into deeper waters. At the same time, British Pound is weighed down by slowing wages growth and weak PMIs too. Swiss Franc is also on a similar downward slide following the European counterparts.