ForexLive European FX news wrap: Euro slips after soggy PMI data

Headlines:

Markets:

• NZD leads, EUR lags on the day
• European equities lower; S&P 500 futures down 0.2%
• US 10-year yields down 2.4 bps to 4.230%
• Gold up 0.3% to $2,366.41
• WTI crude down 0.2% to $81.12
• Bitcoin down 2.1% to $63,690

The euro was in focus in European morning trade today amid the releases of the French and German PMI data.

Both sets of releases disappointed, signaling that the euro area economy might have grounded to a halt in Q2. That weighed on the single currency, with EUR/USD easing from 1.0705 to 1.0670 during the session.

Besides that, the movement among major currencies was relatively light elsewhere. USD/JPY remains underpinned near 159.00 but lower yields saw the pair slip a little to 158.70 on the session. But it is now trading back up to 158.90 levels currently.

The rest of the major currencies bloc remains more muted, with the dollar keeping steadier overall.

In the equities space, European stocks are seeing yesterday’s bounce fade a fair bit. The poor PMI data did weigh on the mood, with regional bond yields also sagging as a result.

It’s over to North America trading now to see what the US PMI data has to offer.