XE Market Analysis: North America – Apr 18, 2019

The Dollar has traded generally firmer, led by a sharp drop in EUR-USD following sub-forecast data out fo the Eurozone. EUR-USD broke out of its recent narrow orbit of 1.1300 and tumbled over 50 pips in printing an eight-day low low at 1.1243. The preliminary Eurozone April composite PMI dipped to 51.3, down from 51.6 in March and undershooting the median forecast for a slightly lift to 51.8. The data has eroded recent optimism about prospects for a pick-up in economic growth momentum in Europe.