EUR/USD STRENGTHENS AMIDST SLOWING US ECONOMY, HAWKISH ECB COMMENTS

• Euro rises on weakening US factory orders and a mixed ISM reading, with EUR/USD trading above the opening price.
• Wall Street displays mixed sentiment as fears of recession loom following 7th straight month of contracting Manufacturing PMI.
• Hawkish comments from ECB officials, boost the Euro against the backdrop of a sluggish US economy.

EUR/USD erases some of its previous losses, sponsored by weaker orders in factories in the United States (US), alongside mixed ISM readings. European Central Bank President Christine Lagarde and other policymakers’ hawkish comments also lifted the Euro (EUR). The EUR/USD is trading at 1.0710, above its opening price by 0.01%.