EUR/USD fails at $1.10, sinks lower

By: Invezz

EUR/USD has failed to clear $1.10 for the second time this month, signalling a potential reversal in the trend direction. Separately, JP Morgan has issued a warning that the currency debasement is coming to the markets. Fundamental analysis: Positive PMI numbers The latest PMI data from Europe have shown that the data is improving, but staying within the contraction zone. The manufacturing PMI came in at 39.5, much better than 33.4 in April and 38.0 expected from the surveyed analysts. In addition, the services PMI increased to a three-month high of 28.7 from the previous 12.0. “The eurozone saw a

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