Euro Off Daily Lows, Remains Subdued

The euro bounced from its daily lows with the help of positive economic data. Still, the currency was on a defensive due to the outlook for stimulus from the European Central Bank.
Markit economics released several positive reports during the Monday’s trading session. Among them was the one that showed an unexpected increase of Germany’s manufacturing index to the highest level in three months. Indicators of the whole eurozone were good as well.
The positive reports helped the euro but did not allow it to erase losses completely. The prospects for monetary easing from the ECB are still weighing on the currency of the eurozone.
EUR/USD ticked down from 1.0639 to 1.0624 as of 20:52 GMT today. EUR/GBP climbed from 0.7010 to 0.7030 after reaching the daily low of 0.6991. EUR/JPY was down from 130.73 to 130.55 but bounced from 130.34 — the lowest level since April 29.

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