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EUR/USD slides to one-month low as markets eye economic challenges for Eurozone and Germany
09-May-2025   15:04 Hrs IST
Euro slipped to one-month low against the US dollar as weak economic cues clubbed with caution on German economic outlook after recent political developments weighed on the single currency. Euro area private sector growth weakened in April as soft demand conditions limited the speed of expansion and weighed on sentiment, final results of the purchasing managers' survey by S&P Global showed earlier this week. The HCOB final composite output index dropped to 50.4 in April from 50.9 in March, but the reading suggested growth for the fourth straight month. Meanwhile, Conservative leader Friedrich Merz was elected as German chancellor on Tuesday. Markets will be assessing the trends in Germany's export-dominated economy in near term amid global trade headwinds. EUR/USD pair slipped towards 1.1200 today and currently trades at 1.1280, up 0.26% on the day but is not very far from one-month low. On the NSE, EUR/INR futures are trading at 96.27, down 0.53% on the day. US dollar index is holding above 100 mark.

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