The currency pair corrected last week as we had expected. EUR/USD has reached the support at 1,1085. Eurozone’s PMIs were the main drivers of fluctuations.

French manufacturing PMI has reached 50,3, which was lower than expected. German manufacturing PMI declined as well. Aggregate Eurozone’s manufacturing PMI was below expectations but services PMI was above economists’ forecasts.

As for this week, we expect another wave of growth, which will be limited by the highs of the last week.