EUR/USD rises amid Eurozone economic data and ECB policy decisions
pair rise by 0.82%, closing at $1.05930 after fluctuating between lows of $1.05084 and highs of $1.06164. The Euro area's Purchasing Managers' Indexes and the European Central Bank's policy decisions were central to the Euro's demand.
Also on Tuesday, German consumer sentiment numbers will likely be secondary to PMI figures. However, German business sentiment data due on Wednesday will be crucial as an uptick could alleviate fears of a decline in business investment. In the US, October's preliminary private sector PMIs will be evaluated on Tuesday with emphasis on the Services PMI - over 75% of the economy. Rising hiring and wages could trigger demand-driven inflationary pressures, potentially prompting the Federal Reserve to control demand.
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