EUR/USD to drop 50-70 pips on disappointing Eurozone PMIs – Danske Bank

In an overnight client note, the Danske Bank analysts offered their view on the EUR/USD pair on the Euro area flash manufacturing and services PMI releases.

Key Quotes:

“For EUR/USD, the big test is April's flash PMIs.

We look for another disappointment tomorrow, which could send EUR/USD down some 50-70 pips on the day.”