{"id":372932,"date":"2025-02-22T03:09:12","date_gmt":"2025-02-21T21:39:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=372932"},"modified":"2025-02-22T03:11:13","modified_gmt":"2025-02-21T21:41:13","slug":"eur-usd-weakens-on-us-dollars-recovery-slower-than-growth-in-eurozone-pmi-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eur-usd-weakens-on-us-dollars-recovery-slower-than-growth-in-eurozone-pmi-crypto-news\/","title":{"rendered":"EUR\/USD weakens on US Dollar&#8217;s recovery, slower-than-growth in Eurozone PMI &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>EUR\/USD slumps to near 1.0460 after the release of February&#8217;s preliminary PMI data for the Eurozone and its major nations.<\/strong><\/li>\n<li><strong>The Eurozone Composite PMI expanded at a steady pace of 50.2 in February.<\/strong><\/li>\n<li><b>Investors expect Trump\u2019s tariff agenda won\u2019t hurt much than anticipated earlier.<\/b><\/li>\n<\/ul>\n<p>EUR\/USD slides to near 1.0460 in Friday\u2019s North American\u00a0session. The major currency pair weakens\u00a0after the release of the Hamburg Commercial Bank&#8217;s (HCOB) preliminary Purchasing Managers\u00a0Index (PMI) data for February for\u00a0the <a rel=\"nofollow\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/country\/c9822cb1-6cee-45f4-a9a2-89d136990308\">Eurozone<\/a> and its major nations. The Eurozone HCOB PMI report, compiled by S&amp;P Global, showed that overall business activity expanded at a steady pace but slower than expected. The Composite PMI read 50.2 against estimates of 50.5.<\/p>\n<p>The report showed that the Manufacturing <a rel=\"nofollow\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/news\/sp-global-pmis-expected-to-confirm-us-economic-expansion-in-february-202502210900\">PMI<\/a> continued to contract. However, the pace at which the economic data declined was slower than estimates and the former reading. Meanwhile, activities in the services sector expanded. The pace at which the data advanced was surprisingly slower than the prior release.<\/p>\n<p>\u201cEconomic output in the Eurozone is barely moving at all. The somewhat milder recession in the manufacturing sector is only just being overcompensated by the barely noticeable growth in the services sector. There is certainly hope for a German government that will be able to act after the elections, which should also provide a positive impetus for the eurozone as a whole. However, this is offset by a relatively unstable situation in France and a US customs policy that is spreading uncertainty. These figures, therefore, do not yet point to a recovery in the eurozone.\u201d Dr. Cyrus de la Rubia, Chief Economist at HCOB, said.<\/p>\n<p>A steady growth in the Eurozone PMI data is unlikely to provide relief to European Central Bank (ECB) officials, who have been worried about upside risks to economic growth. Traders have fully priced in three more interest rate cuts by the ECB this year. The <a rel=\"nofollow\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/ecb\">ECB<\/a> also reduced its Deposit Facility rate by 25 basis points (bps) to 2.75% last month.<\/p>\n<p>In today\u2019s session, investors will also focus on the flash United States (US) S&amp;P Global <a rel=\"nofollow\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\">PMI<\/a> data for February, which will be published at 14:45 GMT.<\/p>\n<div class=\"module_currencyprices_cke post-module\">\n<div class=\"fxs-major-currency-prices-wrapper\" data-config-asset=\"EUR\" data-config-criteria=\"Strongest\" data-config-currencies=\"USD,EUR,GBP,JPY,CAD,AUD,NZD,CHF\" data-config-period=\"Today\" data-config-quotes=\"1.05027:1.04762,1.26703:1.26542,1.206385:1.20785,0.006683:0.006655,0.006363:0.006351,0.005275:0.005258,0.70558:0.705055,0.671795:0.673005,0.55687:0.55721,105.614:105.9465,0.64034:0.6385,0.609685:0.609535,0.505375:0.504625,95.831:95.947,0.90741:0.90557,0.57646:0.575675,0.548875:0.549505,0.454965:0.454965,86.263:86.507,0.817:0.8165,0.900265:0.90155,1.113933:1.111603,1.060586:1.061064,0.87913:0.87848,166.713:167.051,1.57864:1.576605,1.739434:1.740949,1.932295:1.930895\" data-config-topic=\"EUR\" data-content-module-translate=\"0\" data-module=\"currencyprices\" data-type=\"currencyprices\" data-version=\"v1\" id=\"content-module-currencyprices-EUR-10\">\n<h2 class=\"fxs-major-currency-prices-title\">Euro PRICE Today<\/h2>\n<p class=\"fxs-major-currency-prices-content\">The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.<\/p>\n<table border=\"1\" class=\"fxs-major-currency-prices-currency-prices-table\">\n<thead>\n<tr>\n<th>\u00a0<\/th>\n<th>USD<\/th>\n<th>EUR<\/th>\n<th>GBP<\/th>\n<th>JPY<\/th>\n<th>CAD<\/th>\n<th>AUD<\/th>\n<th>NZD<\/th>\n<th>CHF<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr class=\"fxs-major-currency-prices-currency-price\">\n<th>USD<\/th>\n<td>\u00a0<\/td>\n<td class=\"light-green\">0.25%<\/td>\n<td class=\"light-green\">0.13%<\/td>\n<td class=\"light-green\">0.42%<\/td>\n<td class=\"light-green\">0.07%<\/td>\n<td class=\"light-green\">0.29%<\/td>\n<td class=\"light-green\">0.14%<\/td>\n<td class=\"light-green\">0.21%<\/td>\n<\/tr>\n<tr class=\"fxs-major-currency-prices-currency-price\">\n<th>EUR<\/th>\n<td class=\"light-red\">-0.25%<\/td>\n<td>\u00a0<\/td>\n<td class=\"light-red\">-0.12%<\/td>\n<td class=\"light-green\">0.19%<\/td>\n<td class=\"light-red\">-0.18%<\/td>\n<td class=\"light-green\">0.02%<\/td>\n<td class=\"light-red\">-0.11%<\/td>\n<td class=\"light-red\">-0.05%<\/td>\n<\/tr>\n<tr class=\"fxs-major-currency-prices-currency-price\">\n<th>GBP<\/th>\n<td class=\"light-red\">-0.13%<\/td>\n<td class=\"light-green\">0.12%<\/td>\n<td>\u00a0<\/td>\n<td class=\"light-green\">0.32%<\/td>\n<td class=\"light-red\">-0.06%<\/td>\n<td class=\"light-green\">0.15%<\/td>\n<td class=\"gray\">0.00%<\/td>\n<td class=\"light-green\">0.07%<\/td>\n<\/tr>\n<tr class=\"fxs-major-currency-prices-currency-price\">\n<th>JPY<\/th>\n<td class=\"light-red\">-0.42%<\/td>\n<td class=\"light-red\">-0.19%<\/td>\n<td class=\"light-red\">-0.32%<\/td>\n<td>\u00a0<\/td>\n<td class=\"light-red\">-0.31%<\/td>\n<td class=\"light-red\">-0.12%<\/td>\n<td class=\"light-red\">-0.28%<\/td>\n<td class=\"light-red\">-0.20%<\/td>\n<\/tr>\n<tr class=\"fxs-major-currency-prices-currency-price\">\n<th>CAD<\/th>\n<td class=\"light-red\">-0.07%<\/td>\n<td class=\"light-green\">0.18%<\/td>\n<td class=\"light-green\">0.06%<\/td>\n<td class=\"light-green\">0.31%<\/td>\n<td>\u00a0<\/td>\n<td class=\"light-green\">0.20%<\/td>\n<td class=\"light-green\">0.06%<\/td>\n<td class=\"light-green\">0.13%<\/td>\n<\/tr>\n<tr class=\"fxs-major-currency-prices-currency-price\">\n<th>AUD<\/th>\n<td class=\"light-red\">-0.29%<\/td>\n<td class=\"light-red\">-0.02%<\/td>\n<td class=\"light-red\">-0.15%<\/td>\n<td class=\"light-green\">0.12%<\/td>\n<td class=\"light-red\">-0.20%<\/td>\n<td>\u00a0<\/td>\n<td class=\"light-red\">-0.14%<\/td>\n<td class=\"light-red\">-0.09%<\/td>\n<\/tr>\n<tr class=\"fxs-major-currency-prices-currency-price\">\n<th>NZD<\/th>\n<td class=\"light-red\">-0.14%<\/td>\n<td class=\"light-green\">0.11%<\/td>\n<td class=\"gray\">0.00%<\/td>\n<td class=\"light-green\">0.28%<\/td>\n<td class=\"light-red\">-0.06%<\/td>\n<td class=\"light-green\">0.14%<\/td>\n<td>\u00a0<\/td>\n<td class=\"light-green\">0.07%<\/td>\n<\/tr>\n<tr class=\"fxs-major-currency-prices-currency-price\">\n<th>CHF<\/th>\n<td class=\"light-red\">-0.21%<\/td>\n<td class=\"light-green\">0.05%<\/td>\n<td class=\"light-red\">-0.07%<\/td>\n<td class=\"light-green\">0.20%<\/td>\n<td class=\"light-red\">-0.13%<\/td>\n<td class=\"light-green\">0.09%<\/td>\n<td class=\"light-red\">-0.07%<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"fxs-major-currency-prices-currency-prices-legend\">The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)\/USD (quote).<\/p>\n<\/div>\n<\/div>\n<h2 class=\"fxs_headline_medium\">Daily digest market movers: EUR\/USD slumps\u00a0as US Dollar gains ground<\/h2>\n<ul>\n<li>EUR\/USD struggles to hold Thursday\u2019s gains near the psychological level of 1.0500 as the US Dollar (USD) strives to gain ground after posting a fresh Year-to-Date (YTD) low, with the US Dollar Index (DXY) rising to 106.75\u00a0from 106.30.<\/li>\n<li>On Thursday, the Greenback faced a sharp sell-off as market mood improved. Investors\u00a0expect United States (US) President Donald Trump\u2019s tariffs agenda will not be much more terrifying than the market had anticipated.<\/li>\n<li>Till now, President Trump has imposed 25% tariffs on steel and aluminum, 10% on all imports from China, and has threatened to introduce reciprocal tariffs, with a 25% levy on automobiles, semiconductors, and pharmaceuticals by April. Market participants had anticipated that Trump would force tariffs soon after returning to the White House.<\/li>\n<li>The ambiguity surrounding President Trump\u2019s tariff policies appears to have bought time for US trading partners to negotiate a deal with him, potentially limiting the impact of tariffs on their economies. On Thursday, European Union (EU) trade chief Maros Sefcovic said the US has shown some willingness to mutually reduce tariffs. Sefcovic\u2019s comments came after having a long meeting with Trump&#8217;s top trade officials. He added that his number one priority is to avoid economic pain for both nations.<\/li>\n<li>Apart from Trump\u2019s tariff agenda, growing optimism over the Russia-Ukraine truce has also weighed on the US Dollar. President Trump has agreed to hold more talks with Russia, including Ukraine and Europe, to end the war. On Thursday, US Treasury Secretary Scott Bessent said the President is committed to ending the war \u201cquickly\u201d and added that Russia could see some sanctions relief for negotiating an end to its war with Ukraine.<\/li>\n<li>On the monetary policy front, Federal Reserve (Fed) officials have been guiding a restrictive monetary policy stance amid concerns over upside risks to inflation due to Trump\u2019s economic agenda.<\/li>\n<\/ul>\n<h2 class=\"fxs_headline_medium\">Technical Analysis: EUR\/USD retreats\u00a0from 1.0500<\/h2>\n<p><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/editorial.fxsstatic.com\/miscelaneous\/_EUR_USD_2025-02-21_14-59-34-638757269853353426.png\"><\/a><\/p>\n<p>EUR\/USD falls slightly to near 1.0470 in North American\u00a0trading hours on Friday after revisiting the three-week high of 1.0500 on Thursday. The 50-day Exponential Moving Average (EMA) continues to offer support to the major currency pair around 1.0436.<\/p>\n<p>The 14-day Relative Strength Index (RSI) struggles to break above 60.00. A bullish momentum would activate if the RSI (14) manages to sustain above that level.<\/p>\n<p>Looking down, the February 10 low of 1.0285 will act as the major support zone for the pair. Conversely, the December 6\u00a0high of 1.0630\u00a0will be the key barrier for\u00a0the Euro\u00a0bulls.<\/p>\n<div class=\"module_faqs_cke post-module\">\n<div data-config-category=\"Forex\" data-config-topic=\"tariffs\" data-content-module-translate=\"0\" data-module=\"faq\" data-type=\"faq\" data-version=\"v1\" id=\"content-module-faq-Forex-tariffs-43\">\n<div class=\"fxs-faq-module-wrapper\">\n<h2 class=\"fxs-faq-module-title\">Tariffs FAQs<\/h2>\n<div class=\"fxs-faq-module-container\">\n<section class=\"fxs-faq-module-section\">\n<p class=\"fxs-faq-module-content\">Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.<\/p>\n<\/section>\n<section class=\"fxs-faq-module-section\">\n<p class=\"fxs-faq-module-content\">Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.<\/p>\n<\/section>\n<section class=\"fxs-faq-module-section\">\n<p class=\"fxs-faq-module-content\">There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.<\/p>\n<\/section>\n<section class=\"fxs-faq-module-section\">\n<p class=\"fxs-faq-module-content\">During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.<\/p>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EUR\/USD slumps to near 1.0460 after the release of February&#8217;s preliminary PMI data for the Eurozone and its major nations. The Eurozone Composite PMI expanded at a steady pace of 50.2 in February. Investors expect Trump\u2019s tariff agenda won\u2019t hurt much than anticipated earlier. EUR\/USD slides to near 1.0460 in Friday\u2019s North American\u00a0session. The major [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":372970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,825,433,366,255,250,252,1063,247,253,249,5212,256,254],"class_list":["post-372932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-ecb","tag-eurusd","tag-fed","tag-gta","tag-looks-rare","tag-oracle","tag-pmi","tag-polygon","tag-quickswap","tag-safe-moon","tag-seo","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/372932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=372932"}],"version-history":[{"count":4,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/372932\/revisions"}],"predecessor-version":[{"id":372984,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/372932\/revisions\/372984"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/372970"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=372932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=372932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=372932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}