ECB Keeps Interest Rate at 2.15%, US Dollar Mixed!

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Major currency movements were seen mixed on Thursday after investors were presented with economic data published in assessing important sectors for major economies.


Manufacturing and services PMI for Germany showed no significant difference for July, not affecting the movement of the Euro currency.


The same data for the UK also showed a decline, pushing the Pound currency down starting in the European session and continuing into the next session.


The US PMI was mixed with the manufacturing sector showing a contraction to 49.5, missing expectations for a forecast above the 50 point level.


However, the excellent service sector rose to 55.2 points.


The US dollar showed a mixed movement heading into the end of this week.


Also in focus yesterday was the decision of the European Central Bank (ECB) meeting which met expectations to keep interest rates unchanged at 2.15%.


The follow-up statement delivered by President Christine Lagarde was cautious and did not seem to show a clear direction for further monetary policy.


President Donald Trump stole the spotlight when he visited the Federal Reserve (Fed) with his visit accompanied by Fed Chairman Jerome Powell.

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